Figure 2-5 shows five different combinations of rockets and cruise ships that a country could manufacture. Suppose it decided to produce 18 rockets and 12 cruise ships. Which of the following would be true?
a. This combination could not be produced.
b. The country will be at point B.
c. The country will be at point C.
d. The country will not be fully utilizing its resources.
e. The country will be at the midpoint of points B and D.
a
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Long-run cost curves are U-shaped because
A) of economies and diseconomies of scale. B) of the law of diminishing returns. C) of the law of supply. D) of the law of demand.
Many large urban banks experienced heavy losses during the 1980s and 1990s. Many of the losses at urban banks can be attributed to
a. heavy international loan commitments and risky investments b. widespread bank panics during the late 1980s c. extraordinary oil profits of Saudi Arabia and Venezuela d. investing too heavily in farm machinery e. the U.S. trade deficit with Japan
The market economy is regarded as "efficient" in that
What will be an ideal response?
Which of the following is NOT a function of the International Monetary Fund?
A. administer an international foreign exchange system B. serve as lender of last resort for national governments C. establish and administer each nation's fiscal and monetary policies D. establish the SDR system nations utilize to settle international payment obligations