A PPF can
What will be an ideal response?
shift inward or outward.
You might also like to view...
What is logrolling?
A) a situation where a policymaker gets the government to fund a non-essential project benefiting her family members B) a situation where a policymaker accepts bribes to prevent proposed legislation from coming to a vote C) a situation where policymakers transfer resources from those voters who are unlikely to have a huge impact on the political outcome to those who contribute to political campaigns D) a situation where a policymaker votes to approve a bill in exchange for favorable votes from his colleagues on other bills
The new Keynesian model has ________ in common with the real business cycle model
A) wage and price stickiness B) a theory of aggregate demand C) procyclical inflation D) a microeconomic foundation
Suppose milk and cereal are compliments and the demand for milk is Qdm = 40 - 6Pm - 2Pc, where Qdm stands for millions of gallons of milk demanded, Pm stands for the price of milk and Pc stands for the price of cereal. The supply of milk is Qsm = 6Pm - 8, where Qsm stands for millions of gallons of milk supplied. The demand and supply of cereal are Qdc = 90 - 5Pc - Pm and Qsc = 5Pc - 10, respectively, where Qdc stands for millions of boxes of cereal demanded and Qsc stands for millions of boxes of cereal supplied. What is the general equilibrium price for milk?
A. $9.76 B. $2.37 C. $5.63 D. $4.00
If natural resources had become scarcer, then we would expect their
a. prices to have risen more than inflation as they have. b. prices to have risen more than inflation, but they have not. c. known quantities to have fallen as they have. d. known quantities to have fallen but they have not.