The accompanying figure shows Becky's daily production possibilities curve for dresses and skirts.
Point Y is ________, and point V is ________.
A. efficient; efficient
B. efficient; inefficient
C. inefficient; inefficient
D. inefficient; efficient
Answer: A
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If a subsidy is provided to produce good X, this will shift the
A. demand curve for X to the right. B. supply curve for X to the left. C. demand curve for X to the left. D. supply curve for X to the right.
If a job pays a wage of $50 per hour, but has a non-wage cost valued at $20 per hour, the net benefit of taking the job equals:
A) $2.5 per hour. B) $20 per hour. C) $30 per hour. D) $70 per hour.
Which of the following would cause a short-run decrease in the quantity supplied of personal computers?
A) The price of CPUs decreases. B) The price of software decreases. C) The number of PC manufacturers decreases. D) The cost of manufacturing PCs decreases.
In recent years, the amount of international trade in which the United States engages has
a. increased, raising domestic demand for unskilled labor. b. increased, reducing domestic demand for unskilled labor. c. decreased, raising domestic demand for unskilled labor. d. decreased, reducing domestic demand for unskilled labor.