The supply curve of money shows, all other things unchanged, the
A) quantity of money supplied at each price of bonds.
B) quantity of money supplied at each bond rate.
C) quantity of money supplied at each interest rate.
D) amount of money people supply at a specific interest rate.
Ans: C) quantity of money supplied at each interest rate.
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Most resources are best suited for a particular use. For example, climate and other conditions in Florida allow resources to be used in orange production in lieu of wheat or potato production. What economic concept deals with this issue?
A) Opportunity cost B) Fallacy of composition C) Specialization D) None of the above
The acronym MPC stands for:
A. marginal production cost. B. marginal propensity to consume. C. macro production cost. D. marginally perfect consumption.