The discovery of new natural resources will cause
A) the economy to move closer to the production possibilities curve.
B) the production possibilities curve to shift up and to the right.
C) an upward movement along the curve.
D) the curve to shift back and to the left.
B
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Which of the following is true of the Fed? a. The law lets the Fed decide how best to promote full employment and output in the U.S. economy. b. It relies heavily on Congressional appropriations
c. The president sits on the Board of Governors. d. Congress must approve any new monetary policy. e. The president must approve any new monetary policy.
Dead capital refers to
A. a capital resource that lacks clear title ownership. B. a capital resource jointly owned by more than one person. C. a capital resource whose owner is deceased. D. a capital resource that has no more useful life.
Which of the following is a condition that helps enforce a cartel agreement?
A. easily observable prices B. a large number of firms C. relatively differentiated products D. large variation in prices
If the U.S. dollar decreases in value relative to other currencies, how does this affect the aggregate demand curve?
A) This will move the economy up along a stationary aggregate demand curve. B) This will move the economy down along a stationary aggregate demand curve. C) This will shift the aggregate demand curve to the left. D) This will shift the aggregate demand curve to the right.