Opportunity cost is illustrated on the production possibilities curve by a
A) bowed-out shape of the curve.
B) shift to the right of the curve.
C) shift to the left of the curve.
D) movement along the curve.
D
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The real interest rate is negative if the inflation rate
A) equals zero. B) is less than the nominal interest rate. C) exceeds the nominal interest rate. D) is equal to the nominal interest rate. E) exceeds the real interest rate.
In the 1990s
A) growth of M1 was more stable than growth of nominal GDP, and velocity soared through most of the period. B) growth of nominal GDP was more stable than growth of M1, and velocity soared through most of the period. C) growth of M1 was more stable than growth of nominal GDP, and velocity plummeted through most of the period. D) growth of nominal GDP was more stable than growth of M1, and velocity plummeted through most of the period.