Opportunity cost is illustrated in a production possibilities frontier (PPF) by a movement
A) from the region within the PPF to a point on the PPF.
B) from the region within the PPF to the region outside of the PPF.
C) from the region outside of the PPF to a point on the PPF.
D) along the PPF where to gain more of one good it is necessary to give some of another good.
D
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Capture theory is
A) an economic theory of regulation. B) a model about perfect competition. C) the same as the public interest theory. D) the theory that regulators capture firms' attention by dictating a very low price. E) a theory that explains behavior of competitive firms.
The cost of offering safe versus risky jobs in the highway construction industry vary across firms. In the end, we would expect the market equilibrium to
A. have firms that face a high cost of offering safe jobs to pay the lowest wages. B. randomly match workers to jobs. C. have firms randomly choose their level of safety. D. match workers who dislike risk to the highest paying jobs. E. match workers who dislike risk to firms that find it cheapest to offer safe jobs.
Which of the following earns little or no interest?
a. a stock b. money c. Treasury bill d. CD
Suppose nominal GDP equaled $10,988 billion while the M2 money supply was $6,063 billion. What was the velocity of the M2 money stock?
A. 0.45 B. 0.55 C. 1.81 D. 2.36