If a society is on its production possibilities frontier, and decides to produce more health care,
a. the cost of producing an additional unit of health care will rise
b. it must employ some previously unemployed resources
c. its standard of living will rise
d. some kind of inefficiency will occur
e. the cost of producing an additional unit of some other good will rise
A
You might also like to view...
One of the ways the market for used cars copes with the problems associated with private information is through the offering of
A) leases. B) warranties. C) low interest rates. D) low prices.
The role of the costs of capital is influenced by the degree to which firms can substitute capital for other inputs of production known as relative prices
Indicate whether the statement is true or false
The AFL-CIO merger in 1955 revolutionized union practices
Indicate whether the statement is true or false
If the R-squared value is low, then using OLS equation is very easy to predict individual future outcomes on y given a set of values for the explanatory variables.?
Answer the following statement true (T) or false (F)