What two main things did returning veterans want to buy after World War II? ____________________.
Fill in the blank(s) with the appropriate word(s).
cars and houses
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A point outside of the production possibility frontier is:
A. inefficient. B. impossible. C. efficient. D. on the contract curve.
At a fair carnival roulette wheel, a player can either win $10, $30, or $80 . If it costs $30 to play, would an individual gain or lose from playing the game?
a. Gain b. Lose c. Breakeven-neither gain nor lose d. None of the above
Which is the best characterization of the current international payments system?
A) The World Bank and the IMF approve nations' exchange rate regimes and ensure that financial flows are not hampered by imbalances. B) All nations are now operating with floating exchange rates and free capital flows. C) The four richest industrial nations have floating exchange rates, while the rest of the nations peg to those currencies. D) There is no standard and no rules, and each nation chooses the regime that works best for its individual situation at the time.
Which of the following would tend to decrease velocity?
A. An increase in interest rates B. More frequent paychecks C. Expected decreases in inflation D. More efficient payment systems