Refer to the above figure. If the farmer is producing 4,000 bushels of beans and 38,000 bushels of wheat, then we know the farmer
A) is using resources efficiently.
B) is producing too much wheat.
C) is inefficient because point a is the most efficient point on the curve.
D) must be using more resources than were assumed available in constructing the graph.
D
Economics
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Suppose nominal GDP is $2,000 a year and the quantity of money is $400. Then the velocity of circulation equals
A) 10. B) 1/5. C) 2. D) 8. E) 5.
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Political stability is an important ingredient in creating and sustaining economic growth
Indicate whether the statement is true or false
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