An indifference curve represents the collection of goods and services that an individual has no desire to consume
Indicate whether the statement is true or false
FALSE
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Because of policy lags in monetary policy, the Fed ________.
A. should base decisions only on what has already happened B. should only focus on fiscal policy C. must try to anticipate changes in the economy before they happen D. should attempt to follow a pro-cyclical policy
What is meant by the phrase, "There is no such thing as a free lunch"?
What will be an ideal response?
A technological advance that increases the productivity of teachers can be expected to have what effects on the equilibrium labor market for teachers?
a. Wages will rise, and quantity of labor will fall. b. Wages will rise, and quantity of labor will rise. c. Wages will fall, and quantity of labor will fall. d. Wages will fall, and quantity of labor will rise. e. Wages and quantity of labor will remain the same.
If this is a closed economy, how many bikes will be produced? 
A. 50,000 thousand B. 100,000 thousand C. 80,000 thousand D. 20,000 thousand