The selection of particular products' production processes
a. determines the output of other products made with those inputs at the same time.
b. is part of the distribution problem in an economy.
c. is accomplished without regard to profit in a laissez-faire economy.
d. depends upon plans for distribution of the products.
a
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A group of physicians that provides medical services to members for a fixed annual fee is termed a:
A. fee-for-service plan. B. partnership. C. health management organization. D. health maintenance organization.
If a consumer is initially at an optimum, and then the price of Y falls, then
A. MUx/Px > MUy/Py B. MUx/MUy > Py/Px C. MUx/Px = MUy/Py D. MUx/Px < MUy/Py
The basic type of intervention by central banks under the managed floating exchange rate system is to:
A. Readjust the peg for exchange rates B. Buy and sell currencies to influence supply and demand for foreign exchange C. Renegotiate the rate at which foreign currencies can be converted into gold D. Make pronouncements but then do nothing and let the market set the exchange rate
Refer to Figure 27-10. In the graph above, suppose the economy in Year 1 is at point A and is expected in Year 2 to be at point B. Which of the following policies could Congress and the president use to move the economy to point C?
A) buy Treasury bills B) increase income taxes C) increase government spending D) decrease the discount rate