The statement "Resources employed in producing X are better suited to making Y" is another way of saying
a. the production possibilities frontier is "bowed out."
b. the production possibilities frontier is a straight line.
c. the production possibilities frontier is "bowed in."
d. resources are unproductive.
e. resources have no opportunity cost.
a
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Economists say that the economy is at "full employment" when the
A) total unemployment rate is zero. B) structural unemployment rate is zero. C) cyclical unemployment rate is zero. D) frictional unemployment rate is zero.
Refer to Figure 10.9. Other things equal, a negative demand shock is best represented as a change in equilibrium from
A) point A to point B. B) point A to point D. C) point C to point B. D) point C to point D.
Explain why the equilibrium price is called the market clearing price
What will be an ideal response?
A budget deficit
a. changes the supply of loanable funds. b. changes the demand for loanable funds. c. changes both the supply of and demand for loanable funds. d. does not influence the supply of or the demand for loanable funds.