The production possibilities frontier (PPF) illustrates the combinations of goods that society can consume when trading with other producers
a. True
b. False
Indicate whether the statement is true or false
False
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Which function of money enhances the ability of households to accumulate wealth
A) medium of exchange B) store of value C) valuable relative to its weight D) does not become worn out too quickly
The Phillips Curve will shift because of:
A. normal inflation. B. hyperinflation. C. expected inflation. D. core inflation.
Suppose a small island nation imports sugar for its population at the world price of $1,500 per ton. The domestic market for sugar is shown below.
If the government provides a subsidy of $500 per ton, then the cost of subsidy, which must be borne by taxpayers, will be ________ per day.
A. $2,000 B. $5,000 C. $6,000 D. $500
The Federal Funds rate is
A. directly determined by the Federal Reserve. B. determined by market forces alone, without Federal Reserve influence. C. determined by market forces but targeted by the Federal Reserve. D. determined by Congress.