The curve that represents all possible combinations of goods that can be produced is called
A) the production possibilities curve.
B) the resource allocation curve.
C) the efficiency curve.
D) the supply curve.
A
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The multiplier-accelerator model
A) suggests that a downturn in real GDP will lead to a sharp fall in investment, which leads to further reductions in GDP through the multiplier. B) emphasizes that current investment spending depends negatively on the expected future growth of GDP. C) links investment spending to stock prices. D) emphasizes the role of real interest rates and taxes.
Refer to the above table. The table represents information on the costs for Ajax Corporation. Ajax operates in a perfectly competitive market and the price of the product is $7. What will be the value of total revenue when quantity sold equals 2?
A) $7 B) $14 C) $21 D) $16