Points that lie beneath the production possibilities curve are:
A. unattainable and inefficient.
B. attainable but inefficient.
C. unattainable but efficient.
D. attainable and efficient.
Answer: B
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Assume that the supply curve for a commodity shifts to the left and the demand curve shifts to the right, and the shift in demand is greater than the shift in supply
Then, in comparison to the initial equilibrium, the new equilibrium will be characterized by: A) a lower price and quantity. B) a higher price and quantity. C) a higher price and a lower quantity. D) a lower price and a higher quantity.
If the currency drain ratio increases, how can the Fed adjust the monetary base to offset the effect on the quantity of money?
What will be an ideal response?
Because saving is a leakage, sudden additional saving results in higher equilibrium income for society, ceteris paribus.
Answer the following statement true (T) or false (F)
You own stock that increases in value by $3,000 but you do not cash in the stock. The $3,000 is
A. counted as part of economic income but not part of taxable income. B. counted as neither taxable nor economic income. C. counted as both economic and taxable income. D. counted as taxable income but not economic income.