Points inside the PPF are all
A) unaffordable.
B) attainable and have some unemployed resources.
C) unattainable and have some unemployed resources.
D) attainable and have fully employed resources.
E) unattainable and have fully employed resources.
B
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Refer to the scenario above. Which of the following is true if David's maximum willingness to pay for the good falls to $380?
A) James will win the auction. B) Rachel will not take part in the auction. C) The owner of the good will earn the same average revenue. D) David will win the auction.
Like the contemporary forms of transportation—airplanes, automobiles and trucks—railroads shifted from being perceived as a private luxury to a public necessity
Indicate whether the statement is true or false
All taxes distort market decisions, affecting the buying and selling of goods and services
a. True b. False Indicate whether the statement is true or false
"Supply creates its own demand" implies that
A. the very act of supplying a particular level of goods and services will not necessarily equal the level of goods and services demanded. B. the government will buy up any surplus of goods and services in a country to avoid economic problems. C. the very act of demanding a particular level of goods and services necessarily equals the level of goods and services supplied. D. the very act of supplying a particular level of goods and services necessarily equals the level of goods and services demanded.