Self-sufficiency is the best way to increase one’s material welfare.

Implicit costs are

A) the costs of using factors that a producer hires or rents. B) the opportunity costs of using factors that a producer does not buy or hire but already owns. C) costs that are taken into consideration by accountants. D) costs that are variable in the short run and fixed in the long run.

The money supply curve as determined by current Federal Reserve policy is

A. Downward-sloping to the right. B. Vertical since it's not determined by the interest rate. C. Horizontal since it's not determined by the interest rate. D. Upward-sloping to the right.