The intended use of TARP funds was to
A. support the FDIC.
B. increase consumers’ disposable income.
C. fund “shovel-ready” projects.
D. purchase unwanted securities.
Answer: D
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The production possibilities curve shifts outward when
A) the law of increasing additional cost takes hold. B) the economy is producing efficiently. C) we produce more consumption goods over productive investment in equipment. D) there is an increase in resources or technology.
The concave shape of the production possibilities frontier reflects
a. the law of comparative advantage b. the law of absolute advantage c. the law of increasing opportunity cost d. the simplifying assumption of scarce resources e. productive inefficiency
For any given year, the CPI is the price of the basket of goods and services in the
a. given year divided by the price of the basket in the base year, then multiplied by 100. b. given year divided by the price of the basket in the previous year, then multiplied by 100. c. base year divided by the price of the basket in the given year, then multiplied by 100. d. previous year divided by the price of the basket in the given year, then multiplied by 100.
Refer to the information provided in Figure 26.6 below to answer the question(s) that follow.
Figure 26.6Refer to Figure 26.6. Suppose the equilibrium price level is 110. An increase in the Z factors ________ equilibrium output and ________ the price level.
A. leaves unchanged; increases B. increases; increases C. decreases; leaves unchanged D. decreases; decreases