Refer to Figure 2-1. Point C is A) technically efficient. B) ...

[maegan_martin]

Refer to Figure 2-1. Point C is
 
  A) technically efficient.
  B) unattainable with current resources.
  C) inefficient in that not all resources are being used.
  D) is the equilibrium output combination.

Question 2

Refer to Figure 17-9. A follower of the new classical macroeconomics would argue that a contractionary monetary policy to lower inflation after a supply shock, like that pursued by Volcker in 1979, would result in a movement from
 
  A) C to D to A. B) A to C. C) A to D to C. D) A to B. E) C to A.

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Answer to Question 1

B

Answer to Question 2

E

[maegan_martin]

Thank you

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