Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, Point F
A. is efficient and attainable.
B. cannot be produced with the current state of technology.
C. represents underallocation of resources.
D. represents what the people want.
Answer: B
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Because of price stickiness in the Keynesian model, a decline in investment demand will not cause the
A) LM curve to shift down and to the right in the short run. B) LM curve to shift in the long run. C) IS curve to shift down and to the left in the short run. D) IS curve to shift in the long run.
If the quantity of money demanded is greater than the quantity supplied, then the value of money rises
a. True b. False Indicate whether the statement is true or false
In general in the U.S., persons classified as poor have money income that amounts to
A. less than half the median income. B. three quarters of the median income. C. the median income. D. half the median income.
Which of the following topics are more likely to be studied by a macroeconomist than by a microeconomist?
a. the effect of taxes on the prices of airline tickets, and the profitability of automobile-manufacturing firms b. the price of beef, and wage differences between genders c. how consumers maximize utility, and how prices are established in markets for agricultural products d. the percentage of the labor force that is out of work, and differences in average income from country to country