Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, Point F
A. is efficient and attainable.
B. cannot be produced with the current state of technology.
C. represents underallocation of resources.
D. represents what the people want.
Answer: B
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According to the Bureau of Labor Statistics, a person who does not have a job and has not been actively looking for a job in the past four weeks is considered
A) unemployed. B) employed. C) not in the labor force. D) underemployed.
Which of the following statements correctly characterizes the colonial commodity trade deficit?
a. The Middle colonies had the largest commodity trade deficit. b. The Southern colonies exported more to Great Britain & Ireland than they imported. c. The colonies experienced commodity trade deficits not only in their trade with England, but also in trade with Southern Europe and Africa. d. The colonies had a commodity trade deficit with Great Britain, but a commodity trade surplus once all trades were taken into account.
When the dollar depreciates, the cost to Americans of foreign goods
a. rises and the CPI falls. b. rises and the CPI rises. c. falls and the CPI rises. d. falls and the CPI falls.
What is important when remembering what, how, and for whom to produce?
What will be an ideal response?