If point C is now 9 units of guns and 8 units of butter, the maximum units of guns possible to produce is 17 and the maximum units of butter possible to produce is 13, the production possibility curve would have shifted _____________ (outward/inward).

If you are willing to purchase a house for $300,00 . and you purchase the house for $275,000 . this transaction will generate:

a. There is no surplus created b. $25,00 . worth of seller surplus and unknown amount of buyer surplus c. $10,00 . worth of buyer surplus and $15,00 . of seller surplus d. $25,00 . worth of buyer surplus and unknown amount of seller surplus

If you were the Chairman of the Fed and faced a recession, you would most likely

a. encourage commercial banks to provide loans by buying government securities b. encourage commercial banks to provide loans by raising the discount rate c. encourage commercial banks to provide loans by selling government securities d. restrict commercial bank lending by selling government securities e. restrict commercial bank lending by lowering the federal funds rate