It is possible for the economy to be producing at a point that lies beyond its institutional production possibilities frontier (PPF), but not its physical PPF
Indicate whether the statement is true or false
True
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An across-the-board income tax cut where all income taxes were cut by a constant percentage would
A. necessarily go to higher-income people and alter the after-tax distribution of income in favor of high-income people. B. necessarily go to higher-income people. C. alter the after-tax distribution of income in favor of high-income people. D. by definition, keep the after-tax distribution of income relationships constant.
When the price level increases, people demand ________ money and the demand for money curve ________
A) less; shifts rightward B) more; shifts leftward C) less; shifts leftward D) the same amount of; does not shift E) more; shifts rightward
In Exhibit 10-5, at what wage rate will the firms stop hiring these workers?
A. $25.00. B. $20.00. C. $15.00. D. $10.00.
Which of the following would be expected to increase the demand for U.S. currency?
A. Political instability rises dramatically in developing nations. B. On-line banking allows customers to transfer funds between checking and stock mutual funds 24 hours a day. C. The economy enters a recession. D. Competition among brokers forces down the commission charge for selling bonds or stocks.