For interest rates to remain stable during economic expansions, the money supply should _____
Fill in the blank(s) with the appropriate word(s).
grow at the same rate as money demand.
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If there is unemployment in an economy, then the
A) economy is operating at an unattainable point. B) production possibilities frontier will shift inwards. C) production possibilities frontier must be bowed inward. D) economy is producing at a point inside the production possibilities frontier. E) production possibilities frontier will shift outwards.
The total fixed cost remains constant as which of the following varies?
a. Cost of resources. b. Time. c. Output in a given period of time. d. Profit.
If the consumer price index (CPI) is 220 one year and 210 the next, the annual rate of inflation as measured by the CPI is approximately _____
a. ?2.3 percent b. ?4.6 percent c. 10 percent d. 4.8 percent e. 220 percent
Perfect competition and monopolistic competition are similar because under both market structures,
A. there are many firms. B. production takes place at the least-cost combination. C. differentiated products are produced. D. entry is difficult.