All points within the utilities possibilities frontier are
A) unattainable.
B) efficient.
C) inefficient.
D) profitable.
C
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An increase in the number of producers of gruel ________ the supply of gruel and shifts the supply curve of gruel ________
A) increases; rightward B) increases; leftward C) decreases; rightward D) decreases; leftward
Studies of PPP covering many years will be more likely to yield evidence of PPP than studies based on short-run data
Indicate whether the statement is true or false
While much of New Classical macroeconomics is being refuted by the evidence, at least one part of it may be a permanent legacy to all economists. It is the insistence on a certain aspect of macroeconomic policy:
A) It has as much impact on SAS as on AD. B) It has its impact on nominal and not real variables. C) People will try to anticipate it and then act accordingly. D) It has no impact on SAS or AD, but does affect LAS.
The quantity of reserves demanded decreases as the federal funds rate rises because
a. people want more liquid assets as the federal funds rate rises. b. the price of bonds rise as the federal funds rate rises. c. the opportunity cost of holding excess reserves increases as the federal funds rate rises. d. people want more money to invest as the federal funds rate rises.