The point where the PPF intersects the horizontal axis is
What will be an ideal response?
attainable and productive efficient
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To maximize cartel profit, the members must allocate output so that the marginal cost for the final unit produced by each firm is
a. identical b. unequal c. negative d. equal to the firm's average total cost e. maximized
If a country with a fixed exchange rate faces a fundamental disequilibrium because it has a large, ongoing surplus in its official settlements balance, which of the following policies can it employ to try to achieve external balance?
A. Allow the exchange rate to float B. Impose import barriers C. Obtain a loan from the IMF D. Raise interest rates
In the above table, the cross price elasticity of demand for good B with good A when PA rises from $10 to $12 is
A. -0.58. B. +0.58. C. +1.83. D. +0.29.
Which of the following would not be considered an automatic stabilizer?
A) legislation increasing funding for job retraining passed during a recession B) decreasing unemployment insurance payments due to decreased joblessness during an expansion C) rising income tax collections due to rising incomes during an expansion D) declining food stamp payments due to more persons finding jobs during an expansion