Given the budget line in the figure above, the combination of chips that is NOT affordable is
A) a.
B) b.
C) c.
D) d.
C
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Refer to Figure 2.1. If you are producing 600 tons of agricultural products per year, what is the maximum amount of manufactured products you can produce per year?
A) 300 tons B) 500 tons C) 600 tons D) 700 tons
Which of the following is NOT an assumption of perfect competition?
A) many firms B) many buyers C) restrictions on entry into the market D) each firm sells an identical product
The majority of money is created when
A) banks make loans. B) new coins are minted. C) the federal government borrows from the public. D) the Fed sells bonds.
The supply curve for loanable funds would decline due to
A) an increase in wealth. B) an increase in the expected return on bonds. C) an increase in expected inflation. D) a decrease in the riskiness of bonds relative to other assets.