If resources are combined efficiently in production, then the society
A) is experiencing economic growth.
B) is producing at a point outside the production possibility frontier.
C) is producing at the most-desirable point on the production possibility frontier.
D) is producing at a point on the production possibility frontier but not necessarily at themost-desirable point.
Ans: D) is producing at a point on the production possibility frontier but not necessarily at themost-desirable point.
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An increase in planned real investment spending causes
A) a shift of the C + I + G + X curve but has no effect on the aggregate demand curve. B) a movement along the C + I + G + X curve and a shift of the aggregate demand curve. C) a shift of the C + I + G + X curve that causes the aggregate demand curve to shift. D) a shift of the C + I + G + X curve and a movement along the aggregate demand curve.
When the market value of the dollar rises relative to other currencies around the world, we say that
A) the supply of dollars has increased. B) the dollar has appreciated. C) the dollar has depreciated. D) the demand for dollars has increased.
The state is considering adding a satellite campus to its major university. How can marginal analysis assist, even though the university does not attempt to maximize profits?
What will be an ideal response?
If an individual perfectly competitive firm charges a price ________ the industry equilibrium price while competitors charge the equilibrium price, the firm will not sell any of what it produces.
A. above B. equal to C. below D. More information is needed to answer the question.