While moving along a production possibilities frontier, the amount of labor ________, the amount of capital ________, and the level of technology ________
A) varies; varies; varies
B) varies; is fixed; is fixed
C) is fixed; is fixed; is fixed
D) is fixed; is fixed; varies
E) varies; is fixed; varies
C
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The figure above shows that in 1996, unemployment was equal to about ________ and the inflation rate was equal to about ________
A) 7.0 percent; 3.0 percent B) 3.0 percent; 5.5 percent C) 5.5 percent; 3.0 percent D) 6.0 percent; 4.0 percent
The process of turning a government enterprise into a private enterprise is:
A. marketization. B. entrepreneurship. C. nationalization. D. privatization.
The formula for computing a basic price index is
A. (100/cost of market basket in base year) + cost of market basket today. B. (cost of market basket today/cost of market basket in base year) × 100. C. (cost of market basket in base year/100) × cost of market basket today. D. (cost of market basket in base year/cost of market basket today) × 100.
A price index is
A. a measurement showing the cost of a bundle of goods at a point in time. B. a decrease in the overall price level. C. a sustained increase in the overall price level. D. a measurement showing how the average price of a bundle of goods changes over time.