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Which one of the following statements is correct?
A. Most production possibilities curves illustrate decreasing marginal opportunity costs.
B. Relative scarcity is no longer a central idea in economics because we are in an age of abundance.
C. The production possibilities curve shows society's preferences for consumer goods relative to capital goods.
D. The central concept underlying the production possibilities curve is that of limited resources.
Determine the Economic functions of money There are three functions of economics of money - A medium of exchange. - A unit of account - Store of value.
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Consider the multiplier model we have studied in class. Assume that the economy is initially in equilibrium and that real income is $180. The marginal propensity to expend is 0.66.
HOW CAN CENTRAL BANK INFLUENCE THE STABILITY OF THE BANKING SYSTEM?
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When a hurricane or flood or a pandemic strikes a country, who is most likely to respond first?
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