Figure 14.1 shows three aggregate demand curves. A movement from point b to point c could be caused by a(n):
A. increase in the money supply.
B. decrease in taxes.
C. decrease in the price level.
D. decrease in government spending.
Answer: C
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Use the following table to answer the question below. Giovanni's Production Possibilities ScheduleRuby's Production Possibilities SchedulePounds of Green BeansPounds of CornPounds of Green BeansPounds of Corn0160032040120102408080201601204030801600400The terms of trade for 1 pound of green beans must lie between ________ and ________ pounds of corn.
A. 1, 8 B. 1, 4 C. 1/8, 1 D. 1/8, 2
In the above table, the marginal product of the 7th worker is 6. What is the total product when 7 workers are employed?
A) 68 B) 70 C) 72 D) 76
According to the graph shown, total surplus is area:
A. A + B + C.
B. B.
C. A.
D. A + B.
When the home construction industry does poorly due to a recession, this is an example of:
A. risk premium. B. unique risk. C. idiosyncratic risk. D. systematic risk.