Which of the following is the best description of the production possibilities frontier (PPF)?
a. The PPF is a curve showing alternative combinations of goods that can be produced when available resources are used efficiently.
b. The PPF is a curve showing the quantity of a good or service supplied by producers at each price level.
c. The PPF is a curve showing the changes in output of a good or service brought about by changes in input usage.
d. The PPF is a curve showing the different input combinations used to produce a particular good or service.
a
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Everything else equal, a depreciation of the dollar against the yuan:
A) will not affect the quantity of dollars demanded. B) will lead to a decrease in the quantity of dollars demanded. C) will lead to an increase in the quantity of dollars demanded. D) can either lead to an increase or a decrease in the quantity of dollars demanded depending on the magnitude of the depreciation.
How do banks create liquidity?
What will be an ideal response?
?The maximum likelihood estimates for Tobit models can be more easily obtained than the OLS estimates of a linear model.
Answer the following statement true (T) or false (F)
Which of the following is NOT true for a perfectly competitive firm in the long run?
A) MR = MC B) MC > LAC C) Price = MC D) SAC = LAC