The production possibilities curve (PPC) illustrates economic growth by a(n)
A. inward shift of the PPC.
B. bowed-out shape of the PPC.
C. outward shift of the PPC.
D. movement along the PPC.
Answer: C
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Which of the following best describes the income velocity of money?
A) V = PMs B) V = Y C) V = PY/Ms D) V = Ms/PY
The money demand curve slopes _____
Fill in the blank(s) with the appropriate word(s).
President Salinas of Mexico devised a strategy to restore Mexican growth by encouraging
A) large inflows of foreign capital. B) large increases in domestic savings. C) large interest rate cuts. D) an expansion of import substitution industrialization policies. E) more government ownership of industrial firms.
Which of the following is not generally considered one of the three main causes of the financial crisis of 2007-2009?
A) insufficient regulation of the shadow banking system B) excessive risk taking by commercial banks and other financial intermediaries C) the "too-big-to-fail problem" of large financial firms D) inaction by the Federal Reserve in acting as lender of last resort