The opportunity costs of different policies must be weighed to solve which of the following obstacles?
A. Measurement problems.
B. Implementation problems.
C. Rational expectations problems.
D. Goal conflicts.
Answer: D
You might also like to view...
Refer to the figure above. Assuming that the market consists of only these two consumers, what is the market demand for pens when the price is $4?
A) 15 units B) 25 units C) 40 units D) 65 units
Phil's filling station gas station operates on a patch on the highway in a patch where there were no gas stations close by. It enjoyed high profits. After a while, Glen's gas another gas station opened up close by. The profits for the first gas station are likely to decrease because
a. it has to lower prices, since its product is now more price elastic b. It has to lower prices since its product is now more price inelastic c. due to the increased availability of substitutes d. both A&C
A pecuniary diseconomy occurs when
A. supply exceeds demand. B. higher output levels results in the same unit costs. C. higher output levels results in lower unit costs. D. an expansion of industry output increases the price of an input.
The production possibilities curve shifts outward when
A) the law of increasing additional cost takes hold. B) the economy is producing efficiently. C) we produce more consumption goods over productive investment in equipment. D) there is an increase in resources or technology.