A point inside the production possibilities curve illustrates that resources are not being used as efficiently as possible.
Answer the following statement true (T) or false (F)
True
You might also like to view...
The members of a society can assign tasks according to ability and distribute benefits in accordance with need only
A) if the government controls the economy. B) if they have a workable procedure for assessing abilities and needs. C) in a socialist or, more likely, a communist society. D) when there are enough of them to assure competent performance of all necessary tasks. E) when they are committed to equity as well as efficiency.
When you deposit funds in a bank and then the bank lends these funds to a borrower, the bank is engaged in
A) fiduciary investment.
B) fraudulent behavior.
C) universal banking.
D) financial intermediation.
An increase in the output price will increase the firm's demand for labor, all else equal
a. True b. False Indicate whether the statement is true or false
For about the past 45 years, state and local taxes have remained relatively constant as a percentage of GDP.
Answer the following statement true (T) or false (F)