Which of the following is an example of a physical constraint?
a. The work you can perform on 1,500 calories a day.
b. The wages you can earn against each hour of work.
c. The bank balance of an individual at any point of time.
d. The contract price at which you agree to sell your house.
A
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Although the possibility exists for an economy to experience stagflation, it has never actually happened in the United States
Indicate whether the statement is true or false
Suppose that there are only two countries in the world, Heartland and Soulland. The two countries produce only two goods, corn and drill presses. At its current level of production, Heartland must give up production of 1/4 drill press to produce an additional 100 bushels of corn. Soulland must give up 1 drill press to produce an additional 100 bushels of corn. No trade now occurs between the two economies, and both economies are operating on their respective production possibilities frontiers. 89. (Exhibit: Heartland and Soulland) The country with a comparative advantage in the production of corn is:
A) Heartland. B) Soulland. C) neither; they both use the same technology. D) neither; they both use the same amount of resources.
Use the following graph to answer the next question.
The graph shows the supply and demand for money where Dm1, Dm2, and Dm3 represent different demands for money and Sm1, Sm2, and Sm3 represent different levels of the money supply. The initial equilibrium point is A. What will be the new equilibrium point following an autonomous increase in the asset demand for money?
A. I B. D C. G D. C
________ established the Federal Trade Commission to investigate "…the organization, business conduct, practices, and management" of companies that engage in interstate commerce.
A. Congress B. The Treasury Department C. The Federal Reserve D. The Supreme Court