When a producer is operating efficiently it is producing:
A. the good in which it has an absolute advantage.
B. at a point on or under its production possibilities frontier.
C. at a point on its production possibilities frontier.
D. only one good.
Answer: C
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Refer to Figure 18.3. In autarky, the maximum amount of pogo sticks that Livonia can produce is
A) 120. B) 100. C) 80. D) 40.
In a change to immigration policy during 2012, "people younger than 30 who came to the United States before the age of 16, pose no criminal or security threat, and were successful students or served in the military can get a two-year deferral from
deportation", Homeland Security Secretary Janet Napolitano said, according to CNN, 06/16/2012. If many of these immigrants had previously been afraid to work, now as a result of being able to work legally A) both the short-run and long-run aggregate supply curves shift rightward. B) only the long-run aggregate supply curve shifts rightward. C) only the short-run aggregate supply curve shifts rightward. D) neither the short-run nor the long-run supply curve shift.
Describe the policy of "outright monetary transactions" or 0MT presented by the president of the European Central Bank in 2012
What will be an ideal response?
The main source of conflict between employers and their organized workers is over the
(a) disparities in the wages and benefits between organized and unorganized labor. (b) disparities in the wages and benefits between employers and organized workers. (c) proceeds of selling goods and services made jointly between hired labor and business owners. (d) working conditions.