An increase in an economy's productive resources will lead the production possibilities curve to:
A. shift outward.
B. become flatter.
C. shift inward.
D. stay the same.
Answer: A
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Which of the following is an experiment which tests whether fairness is important in consumer decision making?
A) the preferential treatment game B) the behavioral experiment C) the ultimatum game D) the fair trade principle
Suppose the United States eliminates its tariff on ball bearings used in producing exports. Ball bearing prices in the United States would be expected to
A) increase, and the foreign demand for U.S. exports would increase. B) decrease, and the foreign demand for U.S. exports would increase. C) increase, and the foreign demand for U.S. exports would decrease. D) decrease, and the foreign demand for U.S. exports would decrease. E) decrease, and the foreign demand would be unchanged.
The money that households might hold either as money or in interest-bearing assets, depending on the interest rate, is called the:
a. precautionary demand. b. transactions demand. c. speculative demand. d. liquidity motive. e. investment motive.
The EEC stands for the
a. European Economic Community b. Enactment of Economic Cooperation c. Enforcement of Efficient Commerce d. Energy Efficient Commitment e. Economic Enforcement Compact