A point on the production possibilities frontier reflects an
A) attainable point with full employment of all resources.
B) attainable point without full employment of all resources.
C) unattainable point with full employment of all resources.
D) unattainable point without full employment of all resources.
E) None of the above answers is correct.
A
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Which of the following is NOT considered a cash item by banks?
A) U.S. Treasury bills B) deposits at other banks C) deposits at the Federal Reserve D) vault cash
If demand is inelastic and the price of a product decreases by 10 percent, then
A) the change in quantity demanded is less than 10 percent. B) the change in quantity demanded is equal to 10 percent. C) the change in quantity demanded is greater than 10 percent. D) the decrease in quantity demanded is greater than 0 percent.
Marginal factor cost is computed as
A) total cost of the resource/total amount of the resource being used. B) change in the total cost of the resource/total amount of the resource being used. C) total cost of the resource/change in the amount of the resource being used. D) change in the total cost of the resource/change in the amount of the resource being used.
Which of the following goods would be most likely to be produced by a monopoly?
a. Lotso-Sugar brand cereal b. Pepsi c. margarine d. electricity e. Ford automobiles