Production Possibility Frontier (PPF)
What will be an ideal response?
A graph that shows the max combinations that 2 goods can be produced assuming the producer uses resources efficiently
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When the average physical product is falling
A) average variable costs are rising. B) average fixed costs are rising. C) total costs are falling. D) average variable costs are falling.
You would expect the price of a share of stock to fall if
A. the expected dividend of the stock rose. B. the price level were rising. C. the economy went into recession. D. all of the above.
The monetary base is equal to
A) M1. B) M2. C) currency and coins in circulation plus checkable deposits. D) the sum of coins, Federal Reserve notes, and banks' reserves at the Fed. E) the sum of coins, Federal Reserve notes, and gold at the Fed.
The 2002 tax reform is a good example of special interests being less influential because Congress was considering comprehensive tax reform
a. True b. False