If the economy were producing at point Z and moved to point D,
A. it could only produce more butter at the sacrifice of some gun production.
B. it could only produce more guns at the sacrifice of some butter production.
C. it could produce more guns and more butter at the same time.
D. it would be impossible to produce more guns without the sacrifice of some butter production.
C. it could produce more guns and more butter at the same time.
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Because of the circular flows of expenditure and income in the economy, total ________ equals total ________ equals total ________
A) expenditure; investment; income B) expenditure; income; value of production C) consumption; expenditure; value of production D) investment; income; consumption E) consumption; investment; expenditure
In the real business cycle model, output and employment are
a. determined by real supply-side variables. b. determined by supply and demand factors. c. always at their natural rates. d. both a and c. e. None of the above
If the price of one Weight Watchers frozen dinner is $2 and the price of one dozen jelly doughnuts is $1, which of the following would Kent, a utility-maximizing consumer, buy with his $6?Jelly DonutsFrozen DinnersDozen Consumed per DayTotal utility (Units of utility)Dinners Consumed per DayTotal utility (Units of utility)0000112116221232327346430442530542628636
A. 2 frozen dinners and 2 dozen jelly doughnuts B. 1 frozen dinner and 4 dozen jelly doughnuts C. 6 dozen jelly doughnuts D. 3 frozen dinners
Which statement is true?
A. The largest merger in history involved Chase Manhattan Bank. B. There have been only two mergers in our entire history valued at over $15 billion. C. It is illegal under our antitrust laws for two firms in the same industry to merge. D. None of these statements are true.