If Jane can produce 3 pairs of shoes per hour, while Bob can produce 2, then ________ has a(n) ________ advantage in producing shoes.
A. Jane; comparative
B. Bob; absolute
C. Bob; comparative
D. Jane; absolute
Answer: D
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Which of the following statements is false?
A) There is an indifference curve associated with any combination of goods selected by a consumer. B) A consumer is indifferent among all consumption bundles along a given budget line. C) Consumption bundles that lie on higher indifference curves yield higher utility. D) All consumption bundles along a given indifference curve are equally desirable.
What can one learn from the following figure?
What will be an ideal response?
A bank can safely lend only an amount equal to its excess reserves because
A) all of its reserves are now required reserves. B) borrowers will spend the proceeds of their loans, and the bank will lose all of its excess reserves. C) the excess reserves will fall to zero when the bank makes the loans. D) This is not true since a bank can safely lend an amount equal to its total reserves.
When the Fed targets interest rates, rightward shifts in the IS curve force the Fed to ________ the money supply to hold to that target, which acts to ________ velocity
A) raise, destabilize B) raise, stabilize C) lower, destabilize D) lower, stabilize