A country operates inside its production possibilities curve; this may be caused by
A) unemployed resources.
B) total efficiency in industry.
C) a new resource being discovered.
D) a lack of modern products being produced.
A
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A pizza parlor's rent is
A) sunk in the long run. B) fixed in the long run. C) avoidable in the short run. D) variable in the short run.
Which of the following impacts of the terrorist attacks of September 11, 2001, would not show up as a direct loss to GDP?
a. The loss of jobs in the WTC b. The loss of restaurant income near ground zero c. The loss of WTC itself d. The loss of rental income to landlords for buildings near ground zero e. The loss of jobs in the surrounding area.
Banks are ________ that link lenders (depositors) to borrowers. Banks exist because they can specialize in evaluating the likelihood of borrower repayment and reducing risk by developing a diversified portfolio rather than lending to a single borrower
a. monopolies b. non-profit organizations c. financial intermediaries d. government agencies
Increased trade restrictions
A. Reduce total consumption possibilities. B. Alter a nation's production possibilities. C. Have a neutral impact since the losses cancel out the benefits. D. Increase a trade deficit in the short run.