If the Fed desires an interest rate increase, the Federal Open Market Committee (FOMC) could buy U.S. government securities in the open-market
Indicate whether the statement is true or false
F
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Points inside a production possibilities curve are ________ and ________
A) efficient; unattainable B) inefficient; unattainable C) efficient; attainable D) inefficient; attainable
John and Mary work eight hours at a bakery. John can decorate either 10 ice-cream cakes or 4 wedding cakes; Mary can decorate either 8 ice-cream cakes or 2 wedding cakes. According to this scenario
A) Mary has the absolute advantage in decorating wedding cakes. B) John has the absolute advantage in decorating wedding cakes. C) Mary has the comparative advantage in decorating wedding cakes. D) John has the comparative advantage in decorating ice-cream cakes.
If the cross-price elasticity of two goods is 0.25, then we know that these goods are:
A. substitutes because their cross-price elasticity is greater than zero. B. complements because their cross-price elasticity is less than 1. C. substitutes because their cross-price elasticity is less than 1. D. complements because their cross-price elasticity is greater than zero.
Suppose an employer has monitoring devices established so that the probability of an employee being caught while shirking is 0.2. If the gain to the employee from shirking is $1,000, how large a bond will deter shirking?
What will be an ideal response?