Consider a society facing the production possibilities curves in the figure shown. What is the most likely cause of a society moving from PPF3 to PPF1?

Consider a perfectly competitive firm whose minimum average total cost is $100 . This firm is representative of all the firms in the market. If the market price is $80, then in the long run

a. new, more-efficient firms will be attracted into the industry b. market supply will fall c. the firm's average revenue will fall d. all the firms currently operating will increase output e. total market output will rise

When the Fed chooses to target the interest rate target, it loses control over targeting the economy's money supply

Indicate whether the statement is true or false