The textbook cautions against speaking of "the people" as wanting a particular good
A) because it is not clear in what sense groups as distinct from individuals can ever have wants.
B) because people rarely know what they themselves really want.
C) because the wants of the people are relevant only in a democracy.
D) because assertions about "the people" confuse economics with politics.
E) unless the majority has clearly voted for it.
A
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Which of the following would shift a nation's production possibilities frontier outward?
A) an increase in demand for the nation's products B) discovering a cheaper way to convert sunshine into electricity C) a decrease in the unemployment rate D) a law requiring workers to retire at age 50
Under a fixed exchange rate system, at low domestic real interest rates net capital outflows are ________, so the central bank ________ foreign-exchange reserves
A) positive; acquires B) positive; loses C) negative; acquires D) negative; loses
The investment component of GDP refers to financial investment in stocks and bonds
a. True b. False Indicate whether the statement is true or false
Refer to the information provided in Figure 10.2 below to answer the question(s) that follow. 
Figure 10.2 Refer to Figure 10.2. This firm's marginal cost curve has shifted from MC0 to MC1. A likely explanation for this is that
A. the price of a variable input decreased. B. the demand for the firm's product decreased. C. the productivity of a variable input declined. D. the supply of a variable input decreased.