Despite saving Lehman Brothers from failing, the Fed and the Treasury decided to allow Bear Stearns to go bankrupt, which it did in September, 2008
Indicate whether the statement is true or false
FALSE
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A perfectly competitive firm's marginal revenue curve is downward sloping
Indicate whether the statement is true or false
Is it possible for the economy to be at full employment and still have some people who are unemployed?
A) No, full employment means that no one is unemployed. B) Yes, since full employment exists if the economy is operating at the natural unemployment rate and there is always some natural unemployment. C) Yes, since full employment exists if the economy is operating at the frictional unemployment rate and there is always some frictional unemployment. D) Yes, since full employment equals the sum of the cyclical unemployment rate and the natural unemployment rate, and there is always some cyclical unemployment. E) none of the above
Sally wishes to spend more time this week studying for her classes. Using the idea of a production possibilities curve, and assuming Sally is currently spending all of her time efficiently, Sally can spend more time studying this week only if
What will be an ideal response?
Suppose Country A and Country B are the only two countries in the world. Country A imports Good X from Country B and exports Good Y. In the absence of any transportation cost, at the world price of Good X
A. Country A's import demand curve will be perfectly inelastic. B. both Country A's import demand curve and Country B's export supply curve are positively sloped. C. Country A's import demand curve will intersect Country B's export supply curve. D. Country B's export supply curve is perfectly inelastic.