Which of the following is NOT a property of isoquants?
A) They do not cross.
B) The closer they are to the origin, the higher the level of output.
C) They have a downward slope.
D) They are "thin."
B
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The rise in average living standards experienced by most industrialized countries:
A. was more rapid before 1870 than after 1870. B. has been continuous over the course of human history. C. has resulted primarily from an increase in population worldwide. D. has been more rapid since 1950 than before 1950.
The production possibilities frontier is the boundary between
A) those combinations of goods and services that can be produced and those that can be consumed. B) those resources that are limited and those that are unlimited. C) those combinations of goods and services that can be produced and those that cannot. D) those wants that are limited and those that are unlimited.
The smaller the reserve ratio the:
A. less a bank can loan out. B. smaller is the money multiplier. C. less money is created in the economy. D. greater the money is created in the economy.
Which of the following are the constituent accounts of the Balance of Payments?
(a) Current account, deposit account and capital account; (b) Trade account, merchandise account and overdrafts; (c) Current account, capital account and financial account; (d) Financial account, primary account and secondary account.