Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, Point E necessarily represents
A. only motorcycles being produced.
B. overallocation of resources.
C. an impossible production point.
D. technological advancement.
Answer: A
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Placing restrictions on business opportunities through government licensing and other controls
(a) is not allowed now and never has been in American history. (b) is not allowed now but was provided for by the Constitution and allowed until the 20th century. (c) is allowed now but was not allowed during the colonial period nor in the decades immediately following the establishment of the new nation. (d) has always been allowed in American history.
Ideal randomized controlled experiments in economics are
A) often performed in practice. B) often used by the Federal Reserve to study the effects of monetary policy. C) useful because they give a definition of a causal effect. D) sometimes used by universities to determine who graduates in four years rather than five.
According to the adaptive expectations theory, after many years of rising prices, people tend to ignore past experience in predicting the future rate of inflation
a. True b. False Indicate whether the statement is true or false
To stabilize real GDP when the money demand curve shifts up on its own, the Fed must increase the money supply
a. True b. False