Moving from one point to another on a production possibilities frontier implies
A) increasing the production of both goods.
B) changing the amount of factors of production that are employed.
C) decreasing the production of both goods.
D) increasing the production of one good and decreasing the production of another.
E) holding the production levels of both goods constant.
D
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Under the Bertrand Model of oligopoly
a. output will be greater than under monopoly but less than competitive output. b. output will be less than under monopoly but greater than competitive output. c. output will be equal to competitive output. d. output will be equal to monopoly output.
In the United States the real wages of the least-skilled, least educated workers have ________ and the wages of best-educated, highest skilled workers have ________.
A. increased; increased B. declined; remained constant C. increased; declined D. declined; increased
Generally, most of the world’s industrial countries believe that central banks should be independent of their governments.
Answer the following statement true (T) or false (F)
How does the federal government raise revenue? What is the largest source of revenue for the federal government? Do state governments also raise revenue from the same sources as the federal government?
What will be an ideal response?