Marti is an economic adviser for a country that is using this production possibilities curve. She decides she would like to see the production possibilities curve move to point N. How can this be done?
a. Use all facilities currently available.
b. Hire everyone who is unemployed.
c. Make sure everyone is doing what they do best.
d. Invent a new, more advanced production method.
d. Invent a new, more advanced production method.
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Which of the following is an example of a price floor?
A. Rent controls B. Maximum prices for gasoline C. Usury laws that set maximum interest rates D. The minimum wage
The structural deficit is
A) the difference between the actual deficit and the natural employment deficit and it increases whenever income rises. B) identical to the natural employment deficit and it decreases whenever tax rates are cut. C) identical to the natural employment deficit and it increases whenever the natural level of output increases. D) identical to the natural employment deficit and it decreases whenever the natural level of output increases.
Stephanie listens to punk rock because her friends do. This is
A) a positive sum game. B) collusion. C) positive market feedback. D) negative market feedback.
If the dollar price of the English pound goes from $1.50 to $1.75, the dollar has
What will be an ideal response?