Referring to a production possibilities curve and the goods being compared, depict the economic event. The AIDS epidemic becomes rampant in America claiming millions of lives (capital goods vs. consumer goods).
A. A movement from a point inside the curve to a point on or near the curve
B. A movement from a point on or near the curve to a point inside the curve
C. A shift in the entire curve to the right (outward)
D. A shift in the entire curve to the left (inward)
D. A shift in the entire curve to the left (inward)
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The most important tool of monetary policy is ________, through which the Fed affects the variable ________ in the money-creation formula
A) open market operations, e B) open market operations, H C) rediscount policy, e D) rediscount policy, c E) reserve requirement policy, e
In conditions of full employment
A) no one in or out of the labor force is unemployed. B) the only unemployment results from a normal frictions and structural mismatches in the labor market. C) the only unemployment results from cyclical swings in economic activity. D) no one in the labor force is unemployed.