The long-run supply curve for a competitive, decreasing-cost industry is upsloping.
Answer the following statement true (T) or false (F)
False
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Inflation is the increase in:
A. imports relative to exports. B. total output per worker. C. total output. D. the general level of prices.
Consider the indifference curve map for nickels and quarters. Assume nickels are on the horizontal axis and quarters are on the vertical axis. The indifference curves for nickels and quarters are
a. straight lines with slope of -1/5. b. straight lines with a slope of -1. c. straight lines with a slope of -5. d. L shaped.
Suppose that there are only two countries in the world, Heartland and Soulland. The two countries produce only two goods, corn and drill presses. At its current level of production, Heartland must give up production of 1/4 drill press to produce an additional 100 bushels of corn. Soulland must give up 1 drill press to produce an additional 100 bushels of corn. No trade now occurs between the two economies, and both economies are operating on their respective production possibilities frontiers. 89. (Exhibit: Heartland and Soulland) The country with a comparative advantage in the production of corn is:
A) Heartland. B) Soulland. C) neither; they both use the same technology. D) neither; they both use the same amount of resources.
Which of the following was true regarding subprime mortgages that were popular in 2005–2006?
A. More than 90 percent of these loans were made by regulated banks. B. Bankers expected higher default rates on these loans. C. They were generally fixed rate loans. D. All of these responses are correct.