True or False.  Market-orientated environmental policies would be illustrated by points on the production possibilities curve.

The study of economics is primarily concerned with

True or False. Suppose you won $15 on a lotto ticket at the local 7-Eleven and decided to spend all the winnings on candy bars and bags of peanuts. Candy bars cost $0.75 each while bags of peanuts cost $1.50 each. The budget line tells you the consumer which of the available combinations of candy bars and bags of peanuts to buy.

Ceteris paribus, if the Fed raises the discount rate, then:

If the Fed wishes to decrease the money supply it can:

The table below shows the amount of sugar and cars each country can make with the same amount of resources. Sugar (tons) Cars Cuba 40 max 10 max Mexico 50 max 100 max Which country has a comparative advantage in cars?

In a competitive market, in the long run, economic profits will cause:

Ceteris paribus, if the Fed raises the discount rate, then:

True or False. The budget constraint framework assumes that sunk costs that were incurred in the past and cannot be recovered, should not affect the current decision.

True or False.  The natural rate of unemployment is approximately 4-6% in the US due to structural and frictional unemployment.