If an economy is being "productively efficient," then that means the economy is:
A. producing the products most wanted by society.
B. maximizing the returns to factors of production.
C. fully employing all economic resources.
D. using the least costly production techniques.
Answer: D
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A monetary policy target is a variable that the Fed can affect directly, which then affects one or more of the Fed's policy goals
Indicate whether the statement is true or false
The short run supply curve for a perfect competitive firm is
a. Marginal cost curve b. Average revenue curve c. Marginal revenue curve d. Marginal cost curve above its average variable cost curve
You are a member of your city's cable television regulatory commission. For the third time this year, the local cable provider has come before the commission, asking for a rate increase. This time it is to cover the cost of new, state-of-the-art cable
relay equipment. Last month it was for money for advanced training for cable installers. The time before that, it wanted to cover the cost of new office equipment. How do you explain the cable company's behavior?
Compared with the U.S., developing countries
a. face geographic conditions that limit productivity. b. have universal health care that prevent the spread of diseases. c. more political stability. d. higher levels of educational attainment.