In order to change the money supply, the Fed might use all of the following tools except:

Because the United States is a developed economy, every other country is catching up to the level of U.S. real GDP per person

Indicate whether the statement is true or false

The production possibilities curve illustrates the basic principle that

a. an economy's capacity to produce increases in proportion to its population. b. if all resources of an economy are in use, more of one good can be produced only if less of another is produced. c. an economy will automatically seek that output at which all of its resources are employed. d. no opportunity cost exists in production.