An increase in the money supply will increase both the amount of money demanded and output
a. True
b. False
A
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In the figure above, what can be said about point B?
A) It can be reached only after economic growth occurs. B) It can be attained only if some resources are left unused. C) It represents all resources being devoted to the production of apples. D) It represents all resources being devoted to the production of oranges.
A perfectly elastic supply curve
a. has an elasticity of 1 b. has an elasticity less than 1 c. has an elasticity of 0 d. is horizontal e. is upward sloping
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The marginal rate of transformation in moving from Point B to Point A is
A. -2/3. B. -3/4. C. -1.5. D. -20.
The Upstart Company has the following production function.
If the company hires 4 workers, which of the following could be the real wage rate?
A. 6 B. 4 C. 8 D. 2