By using all available resources and technology the economy will:
A. Shift aggregate supply to the right.
B. Shift the production possibilities curve to the right.
C. Experience long-run economic growth.
D. Produce at a point on the production possibilities curve.
D. Produce at a point on the production possibilities curve.
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Monetary policy could be procyclical if the Federal Reserve
A) is late recognizing that a recession has begun and does not conduct expansionary monetary policy. B) is late recognizing that a recession has begun and conducts expansionary monetary policy. C) is quick to recognize that a recession has begun and conducts expansionary monetary policy. D) is quick to recognize that a recession has begun and does not conduct expansionary monetary policy.
Economic growth is measured by changes in real GDP
Indicate whether the statement is true or false
In a competitive market, sales go to those producers who are willing to supply the product at the lowest price
a. True b. False Indicate whether the statement is true or false
Kim has $24 per week in her entertainment budget. She splits her time between going to the movies and yoga classes. Each movie costs $8 while each yoga class $3. The total utility from each of these activities is set out in the table below. What is Kim's total utility maximizing point?
fig17.PNG A. 2 movies, 2 yoga classes B. 1 movie, 5 yoga classes C. 3 movies, 0 yoga classes D. 0 movies, 8 yoga classes