Which of the following would likely take the longest time to enact?
A) Federal government fiscal policy that strives for a balanced budget
B) The Fed's lowering of the discount rate
C) The Fed's raising of the discount rate
D) The Fed's engagement in open market operations
A
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What is the relationship between start-up costs and a competitive market?
(A) There is no consistent relationship between start-up costs and the competitiveness of a market. (B) Low start-up costs are likely to make a market less competitive. (C) Markets with high start-up costs are more likely to be perfectly competitive. (D) Markets with high start-up costs are less likely to be perfectly competitive.
Which of the following distinguishes a "straight-line" production possibilities curve from one that is "bowed out"?
a. A straight-line production possibilities curve exhibits increasing opportunity costs, whereas a bowed production possibilities curve does not. b. A straight-line production possibilities curve exhibits decreasing opportunity costs, whereas a bowed production possibilities curve does not. c. A straight-line production possibilities curve exhibits constant opportunity costs, whereas a bowed production possibilities curve does not. d. A straight-line production possibilities curve is upward sloping, whereas a bowed production possibilities curve is not.