Refer to Table 7-5. Fill in the following table with the opportunity costs of producing bows and arrows for Tran and Farah
Pens Pencils
Tran
Farah
Pens Pencils
Tran 4 0.25
Farah 3 0.33
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According the Keynesian macroeconomic model, which of the following was responsible for starting the Great Depression?
A) too little private spending B) too little government spending C) high taxes D) decreases in the quantity of money E) decreases in technology
Which of the following statements is true?
A) A decrease in supply causes equilibrium price to rise; the increase in price then results in a decrease in quantity demanded. B) An increase in demand causes an increase in equilibrium price; the increase in price causes supply to increase. C) If demand increases and supply decreases one cannot determine if equilibrium price will increase or decrease without knowing which change is greater. D) If both demand and supply decrease, there must be a decrease in equilibrium price; equilibrium quantity may either increase or decrease.
Each country's IMF quota subscription is determined by
A) the relative size of its national income. B) the size of its population. C) the size of world trade. D) how much a country wants to contribute.
The Federal Reserve Board of Governors has:
a. seven members who serve 6-year terms. b. 12 members who serve 14-year terms. c. seven members who serve 4-year terms. d. 12 members who serve 4-year terms. e. seven members who serve 14-year terms.