The combination of goods and services Mexico's citizens might feasibly consume are called Mexico's
A. total consumption.
B. total production.
C. consumption possibilities.
D. production possibilities.
Answer: C
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Moral hazard is associated with
A) imperfect information. B) perfect information. C) the low costs of monitoring behavior. D) all of these choices.
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What will be an ideal response?
In long-run equilibrium, monopolistically competitive firms produce where:
A. marginal cost is equal to price. B. marginal revenue is equal to price. C. marginal revenue is greater than marginal cost. D. average total cost is equal to price.
A bowed outward production possibilities curve occurs when
A) opportunity costs are constant. B) resources are not scarce. C) additional units of output of one good necessitate increased reductions in the other good. D) the society is operating on the production possibilities curve.