In this economic growth and production possibilities curve, how much more food can a country produce on the new curve compared to the old curve if it produces no housing on either one?
a. 7 units
b. 10 units
c. 40 units
d. 80 units
c. 40 units
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Industrial market countries make up about _____ of the world population but produce more than _____ of the world's output
a. 16 percent; 50 percent b. 40 percent; 75 percent c. 40 percent; 58 percent d. 55 percent; 65 percent e. 38 percent; 55 percent
For any competitive market, the supply curve is closely related to the
a. preferences of consumers who purchase products in that market. b. income tax rates of consumers in that market. c. firms' costs of production in that market. d. interest rates on government bonds.
.Which of the following best describes the crowding-out effect?
What will be an ideal response?
Regulation that keeps the rate of return in the industry competitive is known as
A) rate-of-return regulation. B) cost-of-service regulation. C) social regulation. D) deregulation.