The following economy produces two products.ProductsProduction Possibilities?ABCDEFTanks012345Autos10009508506503500Refer to the above table. According to the production possibilities schedule, a combination of four tanks and 650 autos is:
A. not attainable because society does not have sufficient resources to produce this combination.
B. not attainable because it is not listed in the schedule.
C. attainable and involves an efficient use of society's resources.
D. attainable, but would not be in the best interests of a strong national defense.
Answer: A
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Which of the following functions are performed by depository institutions?
I. They make long-term loans using short-term deposits, thereby creating liquidity. II. They efficiently gather funds from a large base of depositors. III. They concentrate risk. A) I only B) II only C) III only D) I and II
When a country has a large amount of dead capital
A) there is too much political freedom. B) there is a large amount of economic growth. C) large amounts of capital will be inefficiently employed. D) a country's exports increase.
A Japanese recession will be counteracted by an appreciation of the Japanese yen.
Answer the following statement true (T) or false (F)
Refer to the information provided in Figure 12.4 below to answer the question(s) that follow.
Figure 12.4There are two sectors in the economy, X and Y, and both are in long-run, zero-profit equilibrium at the intersections of S0 and D0.Refer to Figure 12.4. Assume consumer preference changes toward X and away from Y. Ceteris paribus, sector X will likely see ________ and sector Y will likely see ________.
A. the entrance of new firms; the exit of existing firms B. no entry or exit of firms; the exit of existing firms C. the entrance of new firms; no entry or exit of firms D. the exit of existing firms; the entrance of new firms