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 Corn01600801012020602080404030406020400800Jake should specialize in the production of which good?
A. corn
B. green beans
C. both
D. neither
Answer: A
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What is meant by aggregation? Why is aggregation important for macroeconomic analysis?
What will be an ideal response?
If velocity is more stable than the IS curve, then targeting the money supply
a. will be effective in stabilizing the LM curve and interest rates. b. has the same effects as targeting interest rates. c. will be less effective in stabilizing aggregate demand than targeting interest rates. d. is not possible.
If the price in the market for a commodity is below the equilibrium price, the:
A) price will remain unchanged. B) price will decline to clear the market. C) quantity supplied exceeds the quantity demanded. D) quantity demanded exceeds the quantity supplied.
According to new trade theory, the first mover's ability to benefit from increasing returns ______ for other firms.
Fill in the blank(s) with the appropriate word(s).