Use the following figure to answer the question below.
The combination of sixty-five pounds of corn and sixty-five pounds of green beans is
A. attainable.
B. not attainable.
C. efficient.
D. not efficient.
Answer: B
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If autonomous planned spending increases by $1 million and s = 0.2 and t = 0.1, then equilibrium income increases by
A) $5 million. B) $3.33 million. C) $3.57 million. D) $2.90 million.
Under a fractional-reserve banking system, the money supply cannot change without any action from the Federal Reserve
a. True b. False Indicate whether the statement is true or false
Best National Bank operates with a 20 percent required reserve ratio, but has substantial excess reserves. One day a depositor withdraws $500 from his or her checking account at this bank. As a result, the bank's excess reserves:
A. fall by $500. B. fall by $400. C. rise by $100. D. rise by $500.
In the long run, fixed costs are
A) sunk. B) avoidable. C) larger than in the short run. D) not included in production decisions.