Consumption possibilities, during a given time period, refer to the
A. Maximum amount that a country can produce if it imports and does not export.
B. Amount by which a country can expand its production possibilities by engaging in international trade.
C. Maximum amount of imported goods and services that a country can consume.
D. Alternative combinations of goods and services that a country could consume in a given period of time.
Answer: D
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For the last 100 years, the level of government that has seen the largest increase in its percentage of expenditures is
A. local. B. state. C. federal. D. all of these answer options are correct.
An increase in the government budget surplus will shift the ________ curve for loanable funds to the ________ and the equilibrium real interest rate will ________
A) demand; right; rise B) demand; left; fall C) supply; left; rise D) supply; right; fall
If MRP > P, a firm should use less of that input.
Answer the following statement true (T) or false (F)
Changing the price of good Y will
A. only affect the demand for that good. B. have effects across some markets. C. keep prices down in all markets. D. have no effect.