During a time of high unemployment, a country can increase the production of one good or service
A) by using resources in the production process twice.
B) without decreasing the production of something else.
C) and must increase the production of something else.
D) but must decrease the production of something else.
E) but the opportunity cost is infinite.
B
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If we look back at inflation data since 1300, we see that
A) during the 20th century we have finally solved the problem of high inflation. B) the Industrial Revolution caused the highest inflation rates. C) the discovery of America caused prices to fall drastically. D) inflation has been highest in the 20th and 21st centuries. E) the most rapid inflation occurred prior to 1600.
Refer to Table 4-3. The table above lists the marginal cost of cowboy hats by The Waco Kid, a firm that specializes in producing western wear. If the market price of cowboy hats is $50, producer surplus is
A) $0. B) $4. C) $62. D) $138.
Many clothing manufacturers are able to practice price discrimination by selling products in department stores and also in outlet stores
Indicate whether the statement is true or false
The panic of 1893 was caused by the Sherman Silver Act of 1890, which doubled the Treasury's monthly purchase rates to 4
5 million ounces of silver at current market prices and was eased when President Cleveland called for the Act's repeal on June 30, 1893. Indicate whether the statement is true or false