Maximum Feasible Hourly Production Rates for EitherFood or Cloth Using All Available Resources
Using the data in the above table, and assuming constant opportunity costs, it is likely that
A. Mexico will import both cloth and food.
B. Mexico will import cloth.
C. the United States will export food.
D. the United States will import both cloth and food.
Answer: B
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According to the Monetarists a decrease in investment spending initially __________ unemployment so that the price level __________. The resulting __________ in the real money supply __________ spending
A) increases; rises; increase; decreases B) increases; falls; increase; increases C) increases; falls; increase; decreases D) decreases; rises; increase; increases
In principle, taxes and cap-and-trade plans will have exactly the same effects
Indicate whether the statement is true or false
A recessionary gap can be defined as:
a. an economy that is operating above its full-employment capacity. b. an economy that is operating at full-employment capacity. c. the amount by which aggregate expenditures exceeds the aggregate expenditures level needed to generate equilibrium real GDP at full employment without inflation d. the amount by which aggregate expenditures falls short of the level needed to generate equilibrium real GDP at full employment without inflation. e. the easiest way out of a depression.
Members of the Board of Governors of the Federal Reserve System are
a. elected by member banks to serve four-year terms. b. appointed by Congress for 14-year terms. c. appointed by the president for 14-year terms. d. appointed by the Supreme Court for lifetime terms.