Which of the following could shift the Production Possibilities Frontier for the production of automobiles?
a. Newer technology allows the cars to be made more quickly.
b. More laborers are trained in the computerized technology used by the automobile manufacturers.
c. Laws are passed allowing automobile manufacturers to lower their tax rates by hiring more laborers.
d. All of the above could shift the Production Possibilities Frontier of automobiles.
d
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If the Fed buys government securities, then
A) the quantity of money is not changed, just its composition. B) new bank reserves are created. C) the quantity of money decreases. D) bank reserves are destroyed. E) banks' excess reserves decrease.
A person is dynamically consistent if:
A. lapses in his self-control never occur. B. his preferences over the alternatives available at some future date do not change as the date approaches or once it arrives. C. he always wants to follow through on his plans and intentions. D. All of these are necessary for dynamic consistency.