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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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
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)