All of the following are assumptions of the production possibilities curve EXCEPT
A) resources are fully employed.
B) there is a fixed time period.
C) there is a fixed level of technology.
D) there is a fixed demand for the products.
D
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According to your text, controversies about negative externalities are almost always conflicts between the legitimate expectations of citizens and the
A) desire of individuals for greater profits. B) desire of politicians to be reelected. C) legitimate expectations of other citizens. D) mindless urge for more material goods. E) strident demands of environmentalists.
Countries with reliable phone service have difficulty not only communicating, but also reaping the benefits of other technology advances, such as the Internet
a. True b. False
Corporate cultures
A) are part of a strategic plan. B) can limit the effectiveness of a merger. C) arise when transactions costs are very low. D) all of these choices.
Other things being equal, the more elastic demand is: a. the lower the deadweight loss is resulting from the imposition of a particular tax on a product. b. the greater the deadweight loss is resulting from the imposition of a particular tax on a product. c. the greater the fraction is of the burden of the tax borne by consumers
d. the greater the tax revenue collected by the government is.