The following graph is the production possibility curve for a three-person economy, with workers Janna, Drew, and Kari.
Who has the greatest comparative advantage in rice production?
A. Drew
B. Kari
C. Janna
D. None of them
Answer: B
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Economists consider the economy to be at "full employment" when there is no cyclical unemployment
Indicate whether the statement is true or false
If each bank in the United States had to keep 100 percent of checkable deposits as reserves, each $1 the Fed injected into new reserves could increase the money supply by: a. $1
b. $2. c. $100. d. $5. e. a penny.
The United States produces ____ of what it consumes, and consumes ____ of what it produces
a. little, little b. little, most c. most, little d. most, most
If the U.S. exports passenger jet aircraft, what is the effect in the foreign exchange market?
a. It will increase demand for U.S. dollars. b. It will decrease demand for U.S. dollars. c. It will increase supply of U.S. dollars. d. It will decrease supply of U.S. dollars.