One explanation for the drop in the standard of living in the Soviet Union during World War II is that
a. the war led to a movement along its production possibilities frontier away from civilian goods and towards military goods
b. the war led to an outward shift in the production possibilities frontier due to a rise in the level of technology
c. prior to the war, there was much productive inefficiency in the Soviet Union
d. the opportunity cost of producing military goods was zero in their economic system
e. resources used to produce civilian goods were equally capable of producing military goods
A
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A. To spend as little on inputs as possible B. To maximize hourly earnings C. To sell as many ice cream cones as possible D. To maximize his profit
If corporate profits increase rapidly, the main beneficiaries are its
a. common stockholders b. managers c. bondholders d. preferred stockholders e. convertible stockholders
What is personal income tax? On which principle does the federal government levy this tax?
A ___________is a government payment to an individual, business, or other group to encourage or protect a certain type of economic activity.
Fill in the blank(s) with the appropriate word(s).