Moe divides his time between studying Physics and studying Economics. His production possibilities curve for his final grade in each class is shown in the accompanying figure.
Both of Moe's professors require at least a 65 to pass and a 90 to earn an A. Which of the following is true?
A. Moe can pass economics, but only if he fails physics.
B. Moe can pass both classes.
C. Moe can pass physics, but only if he fails economics.
D. Moe could earn an A in economics and still pass physics.
Answer: B
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Indicate whether the statement is true or false
The state is considering adding a satellite campus to its major university. How can marginal analysis assist, even though the university does not attempt to maximize profits?
What will be an ideal response?
According to the rational expectations hypothesis, monetary policy can have real effects on such variables as real Gross Domestic Product (GDP) in the short run
A) only when the policy is anticipated. B) only when the policy is unsystematic and unanticipated. C) regardless of whether the policy is anticipated or unanticipated. D) when the Federal Reserve's open market committee operates as expected in either buying or selling bonds.
Which of the following is correct when a price floor is set above the equilibrium price?
a. quantity supplied is less than quantity demanded at the set price b. quantity supplied is equal to quantity demanded at the set price c. at the set price there will be a shortage d. The market price is greater than the price floor e. quantity supplied exceeds quantity demanded at the set price