A baker can produce two products: cupcakes and pies. The table below is the baker's production possibilities schedule:Production Possibilities ScheduleProductABCDEFCupcakes01220365681Pies1086420If the baker uses all of its resources to produce only cupcakes, then its production combination will be

Refer to Table 15-2. Consider the hypothetical information in the table above for potential real GDP, real GDP, and the price level in 2016 and in 2017 if the Federal Reserve does not use monetary policy

If the Fed wants to keep real GDP at its potential level in 2017, it should A) increase income taxes. B) sell Treasury securities. C) increase the required reserve ratio. D) buy Treasury securities.

Which of the following financial institutions went bankrupt as a result of the financial crisis that began in 2008?

A) Lehman Brothers B) Bank of America C) Citigroup D) JP Morgan