The aggregate supply curve of an economy:
a. is a downward-sloping straight line
b. is an upward-sloping curve.
c. is a vertical line parallel to the price axis.
d. is a horizontal line parallel to the output axis.
e. is a ray from the origin.
b
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At the quantity of 1000 tacos, the marginal social benefit of a taco is $.50 and the marginal social cost is $.60. To produce the efficient quantity of tacos
A) more tacos should be produced. B) fewer tacos should be produced C) there should be no change in the amount of tacos produced. D) More information on production costs is needed to determine the efficient level of tacos.
Anti-globalization and protectionism are both arguments against free trade. How do these two arguments differ?
What will be an ideal response?
Which of the following bond buyers did not buy the bond that best met his or her objective?
a. Jackie wanted a bond with a high interest rate and was willing to take a lot of risk. She purchased a junk bond. b. Andrew wanted a bond that would allow him to legally avoid paying federal income taxes. He purchased a municipal bond. c. Suzy wanted to purchase a bond whose seller was unlikely to default. She purchased a bond that Standards and Poor's rated a low credit risk. d. Cecilia held long-term bonds rather than short-term bonds to avoid risk.
If a country cannot internationalize its debt, then it will have to:
A. buy more bonds domestically, causing its interest rates to rise. B. sell more bonds domestically, causing its interest rates to fall. C. buy more bonds domestically, causing its interest rates to fall. D. sell more bonds domestically, causing its interest rates to rise.