The PPF between goods X and Y will be a downward-sloping
A) straight line if increasing opportunity costs exist.
B) straight line if decreasing opportunity costs exist.
C) curve that is bowed inward if increasing opportunity costs exist.
D) straight line if constant opportunity costs exist.
D
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Refer to Figure 18.4. With an import ban, what is the equilibrium price of gloves in Duckland?
A) $0 B) $8 C) $9 D) $12
Which of the following is not included in the M1 money stock?
a. small time deposits b. demand deposits c. checking account deposits d. travelers' checks e. cash in the hands of the public
At any meeting of the Federal Open Market Committee, that committee's voting members consist of
a. 5 Federal Reserve Regional Bank Presidents and all the members of the Board of Governors. b. 5 Federal Reserve Regional Bank Presidents and 5 members of the Board of Governors. c. 12 Federal Reserve Regional Bank Presidents and all the members of the Board of Governors. d. 12 Federal Reserve Regional Bank Presidents and 5 members of the Board of Governors.
Price ceilings often generate
A) market clearing prices. B) rapid increases in supply to meet the excess demand. C) equilibriums that utilize rationing by price. D) black markets.