Suppose that market demand for golf balls is described by Q = 90 3P, where Q is measured in kilos of balls. There are two firms that supply the…
September 3, 2020
Consider an economy with a constant nominal money supply, a constant level of real output Y = 100, and a constant real interest rate r = 0.
September 3, 2020

If an economy is operating inside its production possibilities curve for consumer goods and capital goods, it:A) must improve its technology to produce more output.B) can only produce more capital goods by producing fewer consumer goods.C) can produce more of both consumer goods and capital goods by using resources that are currently idle.D) can only produce more consumer goods by producing fewer capital goods.

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