In autarky, when a community maximizes its standard of living, its production point is
A) below the production possibility frontier.
B) on the production possibility frontier.
C) above the production possibility frontier.
D) Can't tell without more information.
B
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What is an isocost line? Write the equation used for an isocost line
What will be an ideal response?
The primary mission of the World Bank today is to
A) provide capital to underdeveloped countries. B) provide capital to firms around the world. C) provide financial assistance for the reconstruction of war-damaged nations. D) provide a safe place for people around the world to put their money. E) help countries manage their exchange rates.
In the Classical model, the aggregate supply curve determines the
A) price level. B) inflation rate. C) level of output. D) money supply.
Since 1960, total federal tax revenue as a share of total output was the highest in the year _____
a. 1965 b. 1970 c. 1998 d. 2003