The figure above shows the production possibilities frontier for a country. In order for it to produce at point E, the
A) country would need to acquire more resources and/or more advanced technology.
B) production of compact cars would need to decrease.
C) production of SUVs would need to decrease.
D) country would need to use its resources more efficiently.
E) country would need to determine that compact cars and SUVs are equally important to it.
A
You might also like to view...
Consider an industry that is made up of six firms with the following market shares: Firm A - 50%, Firm B - 20%, Firms C and D - 10% each, and Firms E and F - 5% each
What is the value of the Herfindahl-Hirschman Index and how will the industry be categorized? A) 2,500; mildly concentrated B) 3,150; highly concentrated C) 8,100; highly concentrated D) 10,000; effectively competitive
When job search is the explanation for unemployment, workers are searching for the jobs that best suit their tastes and skills, but when the wage is above the equilibrium level, the quantity of labor supplied exceeds the quantity of labor demanded, and workers are unemployed because they are waiting for jobs to open up
a. True b. False Indicate whether the statement is true or false
Network organizations depend upon
A. decentralization of operating decisions to the business-unit level. B. work groups and specific projects without any formal lines of authority. C. formal lines of authority. D. intersecting lines of authority.
Adverse selection
a. occurs when the overall quality of choices facing a consumer is very low. b. is a greater problem for employees than employers. c. occurs more frequently in the market for new cars than used cars. d. is not easily remedied by free markets.