Points that lie outside (or beyond) the PPF are
What will be an ideal response?
unattainable.
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“Moonshine” is illegally produced liquor and the production process adds sugar to accelerate corn fermentation. Ten pounds of sugar are necessary to make a gallon of moonshine. When the price of sugar tripled, the price of moonshine skyrocketed from $6 to $15 a gallon. Which graph in Figure 4-9 best illustrates this?
A. 1 B. 2 C. 3 D. 4
The Balance Sheet lists:
a. Assets, Liabilities, and Owner's Equity b. Gains, Losses, and Net Income c. Operating, Investing, and Financing Activity d. Income, Expenses, and Liabilities
A year-long drought that destroys most of the summer's crops would be considered a:
A. short-run supply shock. B. long-run demand shock. C. long-run supply shock. D. short-run demand shock.
Camille is at the candy store with her grandmother, who offers to buy her $6 worth of candy. If lollipops are $1 each and candy bars are $2 each, what combination of candy can Camille's grandmother buy for her?
A. Six lollipops and three candy bars. B. Two lollipops and two candy bars. C. Three lollipops and two candy bars. D. One lollipop and three candy bars.