It is clear from the text that most economists assume the primary goal of all firms is to
a. maximize sales
b. minimize cost
c. maximize efficiency
d. maximize profit
e. minimize loss
D
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Using the production possibilities frontier model, unemployment is described as producing at a point
A) on the exact middle of the PPF curve. B) on either end of the PPF curve. C) inside the PPF curve. D) outside the PPF curve.
Some economists and policymakers who are in favor of government-provided health care believe that providing health care will generate
A) more adverse selection. B) additional moral hazard. C) positive externalities. D) greater asymmetric information.
An investment intermediary that lends funds to consumers is
A) a finance company. B) an investment bank. C) a finance fund. D) a consumer company.
In the process of reducing pollutants in our environment, we are
A) achieving a cleaner environment at no real cost. B) causing higher levels of unemployment. C) reallocating resources in an inefficient manner. D) trading off less of other goods and services for a cleaner environment.