In the four-quadrant diagram of the specific factors model, the graph in the lower right quadrant is a country's
A) production function for cloth.
B) production possibility frontier.
C) labor allocation constraint.
D) production function for food.
E) labor supply curve.
A
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The greater the number of buyers and sellers with access to securities markets, the
A) higher the true equilibrium price will be. B) higher the yields on securities will be. C) lower the yields on securities will be. D) closer securities prices will be to the true equilibrium price.
The difference between the total amount that producers would have been willing to accept for the total quantity produced in a market and what they actually received at the market clearing price is called
A) production excess. B) excess demand. C) market surplus. D) producer surplus.
What variable adjusts to balance demand and supply in the market for loanable funds?
When in France you notice that prices are posted in euros, this best illustrates money's function as
a. a store of value. b. a medium of exchange. c. a unit of account. d. a method of barter.