All possible efficient allocations of 2 goods between 2 people are located on
A) the indifference curve.
B) the contract curve.
C) the production possibilities frontier.
D) the budget line.
B
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Over the last 50 years, how has the women's labor force participation rate changed? What are reasons for this change?
What will be an ideal response?
Consider two goods: gold jewelry and round-trip bus tickets to Urbana, Illinois. Which statement is most likely correct?
a. They are inferior goods. b. Their demand curves are quite similar. c. They are complementary goods. d. They are substitute goods. e. They are neither inferior, similar, substitutes, nor complements.
On which point on the graph above should the economy operate if it wants to maximize its future production possibilities?
a. A b. B c. C d. D
Which of the following statements is NOT true about money?
A) Money can only be coins and paper. B) Anything that serves as a medium of exchange, as a unit of accounting, as a store of value, and as a standard of deferred payment can be called money. C) Money is any medium that is universally accepted by sellers and creditors. D) Money is a standard of deferred payment.