A nation that devotes more of its resources to capital investment is likely to:
A. decrease the slope of its production possibilities curve.
B. shift inward its production possibilities curve.
C. increase the slope of its production possibilities curve.
D. shift outward its production possibilities curve.
Answer: D
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A nation will neither export nor import a specific product when its
A. export supply curve lies above its import demand curve. B. export supply curve is upward-sloping. C. domestic price equals the world price. D. import demand curve is downward-sloping.
M2 includes M1 plus
A) savings account balances, money market deposit accounts in banks, small-denomination time deposits, and noninstitutional money market fund shares. B) checking account deposits, large-denomination time deposits, and noninstitutional money market fund shares. C) currency in circulation, checking account deposits in banks, and holdings of traveler's checks. D) currency in circulation, savings account balances, and small-denomination time deposits.
According to supply-side advocates, the increase in government regulatory activity in the late 1960s slowed economic growth
a. by increasing the cost of producing a given output. b. by requiring capital formation that contributes to increased productivity in terms of measured output. c. only temporarily until there was an adequate adjustment period. d. Both a and b
Albro Martin (1971) argues that the Interstate Commerce Commission (1887–1995) was captured by its customers, not the railroad industrialists
Other researchers like Gabriel Kolko (1965) highlight the involvement of railroad industrialists in capturing this government agency to serve a cartel role, too. Indicate whether the statement is true or false