If the production possibilities frontiers shown are each for one day of production, then which of the following combinations of tacos and burritos could Arturo and Dina together produce in a given day
A. 400 tacos and 350 burritos
B. 600 tacos and 150 burritos
C. 700 tacos and 100 burritos
D. 500 tacos and 250 burritos
Ans: B. 600 tacos and 150 burritos
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In real business cycle models and new classical models
a. monetary factors are responsible for fluctuations in output and employment. b. changes in unemployment are involuntary. c. markets always clear. d. prices and wages are perfectly flexible. e. none of the above.
When a country experiences capital flight, which of the following rise?
a. its real interest rate and its real exchange rate b. its real interest rate but not its real exchange rate c. its real exchange rate but not its real interest rate d. neither its real interest rate nor its foreign exchange rate
The market economy is regarded as "efficient" in that
What will be an ideal response?
In the presence of ________ externalities, too much of the good is produced and in the presence of ________ externalities, too little of the good is produced.
A. no; negative B. positive; no C. negative; positive D. positive; negative