The least costly way to produce a given level of output is indicated by the point of tangency between a budget line and the production indifference curve corresponding to that level of output

When the Fed conducts an open market sale, it leads to a higher level of investment and output in the economy

Indicate whether the statement is true or false

If the goods' money prices do not change, an appreciation of the dollar against the pound

A) makes British sweaters cheaper in terms of American jeans. B) makes British sweaters more expensive in terms of American jeans. C) doesn't change the relative price of sweaters and jeans. D) makes American jeans cheaper in terms of British sweaters. E) makes British jeans more expensive in Britain.