Assume that political business cycles do not exist. Given this assumption, we would expect, all else fixed, the output growth to be highest in which period?
A) just prior to an election
B) just after an election
C) in the first year of an administration
D) in the second year of an administration
E) none of the above
E
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A production possibilities curve shows the relationship between:
A) the price of a good and its quantity supplied. B) the maximum production of one good for a given level of production of another good. C) the different combinations of two inputs used to produce a given quantity of output. D) the quantity of output produced and the amount of inputs required for the production of the output.
One problem with the utilitarian principle is that it ignores
A) increasing marginal costs. B) decreasing marginal benefits. C) the costs of making income transfers. D) poor people.
Explain what will happen to the production possibilities curve over time if society gives up some consumption goods in favor of more capital goods
What will be an ideal response?
The expected rate of return is a guaranteed rate of return on an investment. Evaluate.
What will be an ideal response?