A decrease in the unemployment rate from 21 percent to 17 percent can be illustrated as:
a. an inward shift of the production possibilities curve
b. an outward shift of the production possibilities curve.
c. a movement down and to the right along the production possibilities curve.
d. a movement from a point inside the production possibilities curve to a point closer to the production possibilities curve.
d
Economics
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Suppose that the interest rate is greater than the equilibrium interest rate. Which of the following occurs?
I. There is an excess quantity of money. II. The quantity of money automatically increases. III. The interest rate falls. A) I B) I and II C) I and III D) I, II and III
Economics
A noncooperative game situation may occur when
A) firms collude. B) firms find collusion too costly. C) firms merge. D) firms agree to price fixing.
Economics