All points inside the production possibilities curve indicate
A) a lack of sufficient supply.
B) inefficiency in production.
C) the law of increasing relative cost.
D) the law of decreasing relative cost.
Answer: B
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Comparing the United States economy in the 1920s with the economy in the 1990s, both decades
A. had slow economic growth. B. had a lack of any government regulation of the stock market. C. suffered from economic depressions. D. had soaring stock
Marginal revenue product of labor equals marginal product times the wage only when the firm is a perfect competitor in the product market
a. True b. False
What is the economically efficient level of emissions from a particular source?
a. zero b. the quantity at which the marginal cost to achieve lower emissions equals the additional value of reducing pollution c. the level determined by EPA (Environmental Protection Agency) scientists that will save the most lives d. the level emitted when markets are allowed to function with no government regulation
What does the maturity of a bond indicate?