Refer to Figure 15.7. Suppose the Federal Reserve ________ bonds in the open market. The money supply will decrease and cause a shift from point ________.
A. sells; B to point C
B. buys; B to point A
C. buys; B to point C
D. sells; C to point B
Answer: A
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Suppose the current unemployment rate is 15 percent. If it rises to 20 percent
A) the economy will move up along the production possibilities curve. B) the economy will move closer to the production possibilities curve. C) the production possibilities curve will shift inward. D) the economy will operate farther inside the production possibilities curve.
Which of the following would call for an inflow of payments to the United States?
a. American imports of German steel b. American firms selling insurance to British shipping companies c. gold flowing out of the United States d. American unilateral transfers to less-developed countries
Refer to the information provided in Figure 15.6 below to answer the question(s) that follow.
Figure 15.6Refer to Figure 15.6. If Trollio's T-shirts is in long-run equilibrium, it is producing ________ silk-screened T-shirts and selling each T-shirt at a price of ________.
A. 50; $10 B. 20; $5 C. 50; $16 D. 60; $15
Demand describes how much of something people:
A. be able to buy, but might not want to buy under certain circumstances. B. want, but may not necessarily be able, to buy under certain circumstances. C. are willing and able to sell under certain circumstances. D. are willing and able to buy at alternative prices under certain circumstances.