Improvements in and greater stocks of land, labor, capital, and entrepreneurial activity will shift the production possibilities curve:
a. outward, such that more goods and services can be produced
b. outward, such that the cost-of-living rises.
c. inward, such that the marketplace experiences a decrease in price and output levels.
d. inward, because more resources will be used up and not renewed.
a
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Of the 2.2 million working farms in the U.S., _________ of them produce more than $5,000 worth of agricultural products.
A. one quarter B. half C. three quarters D. one third
Why do financial markets depend on accurate accounting and disclosure practices?
What will be an ideal response?
Refer to Table 3-4. The table above shows the demand schedules for cashews of two individuals (Jordy and Amy) and the rest of the market. If the price of cashews falls from $4 to $2, the market quantity demanded would
A) increase by 36 lbs. B) decrease by 28 lbs. C) increase by 28 lbs. D) decrease by 36 lbs.
The existence of a liquidity trap implies that
A) a decrease in the interest rate might not increase investment spending. B) an increase in the demand for money will be followed by an equal increase in the supply of money. C) an increase in the supply of money may not lower interest rates. D) a and c