The downward slope of the production possibilities curve demonstrates:
a. the law of increasing opportunity cost.
b. the law of comparative advantage.
c. the law of diminishing marginal utility.
d. the law of absolute advantage.
a
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Leontief used an input-output table in order to test the
A) classical theory. B) the Heckscher-Ohlin theory. C) the Linder hypothesis. D) All of the above.
Smaller firms tend to rely on financial intermediaries instead of financial markets for external financing due to
A) transactions costs. B) adverse selection. C) moral hazard. D) all of the above.
Suppose a new market for tradable pollution permits is created. As long as there is a free market for the pollution rights, the final allocation will be __________ , regardless of the initial allocation of permits
Fill in the blank(s) with correct word
An employee who prepares checks and submits them with supporting documents to the official authorized to sign checks should not be responsible for mailing the signed checks.
a. true b. false