Figure 10-5



indicates that the output of the economy is

a.

greater than the economy's long-run capacity.

b.

equal to the economy's long-run capacity.

c.

less than the economy's long-run capacity.

d.

consistent with long-run equilibrium.


c

Economics

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Use the following table to answer the question below.Jake's Production Possibilities ScheduleJane's Production Possibilities SchedulePounds of Green BeansPounds of CornPounds of Green BeansPounds of Corn01600801012020602080404030406020400800Without trade, Jake consumes 20 pounds of green beans and 80 pounds of corn, and Jane consumes 40 pounds of green beans and 40 pounds of corn. If the terms of trade are 1 pound of green beans for 3 pounds of corn, and Jake sells Jane 72 pounds of corn after specialization, then Jane consumes ________ pounds of green beans and ________ pounds of corn.

A. 56, 72 B. 88, 24 C. 72, 56 D. 24, 88

Economics

Politicians often highlight the plight of a single individual as a reason to support a particular project or agenda. In this case, politicians are using

A) the Khaneman effect. B) the Allais effect. C) framing. D) prospect theory.

Economics

Reserves of banks appear on their balance sheet as liabilities

a. True b. False Indicate whether the statement is true or false

Economics

The behavior of all households and firms together is called the business cycle.

Answer the following statement true (T) or false (F)

Economics