If a producer can use resources to produce either good A or good B, then A and B are
A) complements in production.
B) substitutes in production.
C) substitutes in consumption.
D) complements in consumption.
B
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A production possibilities frontier figure does NOT illustrate
A) the limits on production imposed by our limited resources and technology. B) the exchange of one good or service for another. C) opportunity cost. D) attainable and unattainable points.
Explain the economic concept of price elasticity of supply. How is price elasticity of supply calculated?
What will be an ideal response?
Taxes, transfer payments, and government purchases are the components of automatic stabilizers
a. True b. False Indicate whether the statement is true or false
A $1,000 face value bond, with one year to maturity that sells for $950 and has a $40 annual coupon has a:
A. coupon rate of 4.00% and a current yield that is below this. B. current yield and yield to maturity of 4.00%. C. current yield of 4.21%. D. yield to maturity that equals the current yield.