Which of the following will shift an economy's production possibilities curve inward?
A. an improvement in technology
B. an increase in the unemployment rate
C. a decrease in land, labor or capital
D. a decrease in the unemployment rate
C. a decrease in land, labor or capital
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The table above gives the demand for a monopolist's output. What is the marginal revenue when output is increased from 5 to 6 units?
A) $18 B) $4 C) $3 D) -$2
Rational expectations theory predicts that people's expectations of higher inflation will adjust immediately, leading to an immediate decrease in the actual inflation rate
a. True b. False Indicate whether the statement is true or false
Banks can increase the supply of money
A. only by increasing the currency in the hands of the public. B. only by increasing the checking deposits held by the public. C. by increasing both the currency and the checking deposits in the hands of the public. D. neither by increasing the currency nor the checking deposits in the hands of the public.
Which term defines the market value of goods and services produced in a country in a year (expressed in a national currency)?
a. gross domestic product b. gross national product c. per capita GNP d. per capita GDP