Use the following table to answer the question below. Jane's Production Possibilities SchedulePounds of Green BeansPounds of Corn08020604040602080 0Jane's production possibilities schedule demonstrates that she
A. does not face an opportunity cost when producing green beans.
B. faces an opportunity cost when producing green beans.
C. can produce an unlimited amount of corn if she gives up enough green beans.
D. cannot produce green beans and corn together.
Answer: B
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If the cyclical rate of employment equals -1 percent and the actual rate of unemployment equals 8 percent, then the natural rate of unemployment must equal:
A. 7 percent. B. 12.5 percent. C. 9 percent. D. -7 percent.
In the long run, the economy is better off if policymakers exploit the short-run trad-eoff between inflation and the unemployment rate
a. True b. False Indicate whether the statement is true or false
The prices of telecommunications services have decreased due to productivity increases
a. True b. False Indicate whether the statement is true or false
When analyzing public sector decision making, economic theory assumes voters, politicians, and government officials will
a. respond to changes in personal benefits and costs when making public sector choices. b. always pursue the public interest even when it conflicts with their private interests. c. generally ignore the personal costs and benefits associated with their choices. d. make decisions that seek to maximize the amount of benefits created for society as a whole.