Which of the following would not cause any kind of an outward shift of a nation's production possibilities curve [PPC]?
a. An improvement in the general level of education
b. Technological innovation
c. Discovery of a new source of energy
d. An increase in the size of the labor force
e. A flood that renders thousands of acres of farmland unusable
e
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Refer to Figure 4.8. How many stable Nash equilibrium points are there in this game?
A) 0 B) 1 C) 2 D) 3
When the expected inflation rate equals the actual inflation rate, the real interest rate was accurately estimated.
Answer the following statement true (T) or false (F)
Price fixing is illegal in the United States
a. True b. False
If the reserve ratio is 10%, and banks do not hold excess reserves, when the Fed purchases $10 million of government bonds, bank reserves
A) increase by $10 million and the money supply could eventually increase by $10 million. B) decrease by $10 million and the money supply could eventually decrease by $100 million. C) increase by $10 million and the money supply could eventually increase by $100 million. D) decrease by $10 million and the money supply could eventually decrease by $10 million