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Author Question: According to the figure above, the opportunity cost of producing another computer is A) higher at ... (Read 77 times)

nenivikky

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on: Jun 29, 2018
According to the figure above, the opportunity cost of producing another computer is
 
  A) higher at A.
  B) higher at B.
  C) the same at every point along the frontier.
  D) different at most points along the frontier but equal at points A and B because they are equally distant from the axes.

Question 2

What makes up M1? Is M1 larger or smaller than real GDP?
 
  What will be an ideal response?


alvinum

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

M1 is the sum of currency held by individuals and businesses plus checkable deposits owned by individuals and businesses plus traveler's checks. All the assets in M1 are accepted as means of payment and so all the assets are money. M1 is much smaller than real GDP. Real GDP is about 7 times larger than M1.


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