Picture the production possibilities curve shifting out, year after year, but the shifts are not necessarily the same. This picture is at the heart of the _______ explanation of the twists, turns, and spurts of economic growth
a. market theorists
b. housing cycle
c. innovations cycle theorists
d. real business cycle theorists
e. internal cycle theorists
D
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What is a problem with barter that makes it so difficult to use?
A) Individuals have to produce something to trade with. B) Barter omits the store of value role for money. C) Barter requires use of only fiat money. D) Barter requires a double coincidence of wants. E) Barter is very efficient but illegal because it avoids taxation.
Which of the following statements is correct? a. To control the money supply, the Fed relies primarily on the reserve requirement
b. The discount rate is the rate of interest banks charge to their best customers. c. The Fed changes the reserve requirement frequently. d. Because the Fed has no way to earn income, it is dependent upon Congress for appropriations. e. Banks can turn a borrower's IOU into money.
An important and often ignored opportunity cost is the: a. cost of accounting services
b. cost of missed market opportunities when funds are invested in a firm. c. cost of interest paid to bondholders by the firm. d. cost of utilities used by the firm.
The main advantage of diversification as an investment policy is that it-
What will be an ideal response?