The bowed shape of the traditional production possibilities curve reflects the
A. fact that not all resources are equally well-suited to producing all goods.
B. negative side effects of economic growth.
C. problems of inequality.
D. costs of unemployment.
Answer: A
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Refer to the above figure. The figure represents the consumption function for a consumer. Point A represents
A) positive saving. B) negative consumption. C) autonomous consumption. D) zero saving.
A "great merger movement," whereby firms combined with former rivals to become large firms, began in the 1890s. Who was the first President to look to bigger government as a way to cope with the economic power of these concentrated industries?
(a) Woodrow Wilson (b) Herbert Hoover (c) Theodore Roosevelt (d) Franklin Roosevelt
Increased deficit financing, following the use of expansionary fiscal policy by the U.S., will raise U.S. interest rates and causes the dollar to appreciate
Indicate whether the statement is true or false
In order to prosper, entrepreneurs in a market economy must
What will be an ideal response?