Points that lie outside the production possibilities curve are ________, and points that lie inside the production possibilities curve are ________.
A. attainable; unattainable
B. inefficient; efficient
C. efficient; inefficient
D. unattainable; attainable
Answer: D
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The figure illustrates the market for chairs. If the supply of chairs increases, the price of a chair ________ $40 and the quantity ________
A) will rise above; demanded will decrease B) will rise above; supplied will increase C) will fall below; demanded will increase D) will fall below; demanded will decrease
Equilibrium in the foreign exchange market implies equilibrium in the balance of payments
Indicate whether the statement is true or false
The LM curve will become steeper when
a. there is a larger money demand increase per unit increase in income. b. money demand is less sensitive to the interest rate. c. money demand is more sensitive to the interest rate. d. Both a and b e. Both a and c
Suppose a basket of goods and services has been selected to calculate the CPI and 2014 has been selected as the base year. In 2012, the basket's cost was $50; in 2014, the basket's cost was $52; and in 2016, the basket's cost was $58 . The value of the CPI in 2016 was
a. 106.0. b. 104.0. c. 111.5. d. 116.0.