An automobile manufacturer is trying to make decisions about using more workers or more equipment. This belongs to the trade-off
A) Which goods and services to produce.
B) How to produce.
C) Who gets the goods and services.
D) Who produces the goods and services.
B
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Federal Reserve Chairman Ben Bernanke once said if all else fails, the Fed could drop money from helicopters to help the US economy. If "helicopter Ben" ever comes to the rescue and begins dropping money from the sky, the will be engaged in
A) shenanigans. B) expansionary monetary policy. C) operation financial Armageddon. D) contractionary monetary policy.
Using a production possibilities curve, an economy that produces an output combination less than the maximum possible is depicted by a point located:
a. at the top corner of the curve. b. near the middle of the curve. c. at the bottom corner of the curve. d. outside the curve. e. inside the curve.