By the first years of the 21st century, the rate of inflation in the United States had fallen to between ________ percent

Refer to the production possibilities frontier in the figure above. More of good X must be given up per unit of good Y gained when moving from point b to point a than when moving from point c to point b. This fact

A) illustrates decreasing opportunity cost. B) illustrates increasing opportunity cost. C) indicates that good X is more capital intensive than good Y. D) indicates that good Y is more capital intensive than good X.

In the liquidity trap a small change in interest rates produces ________ change in the quantity of money demanded

A) a small B) no C) a proportionate D) a very large