Points lying ___________ the production possibilities curve are attainable, reflecting less total output than can be produced.
a. on
b. inside
c. beyond
d. along
b. inside
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Paul is looking for a used washing machine. He has posted his requirement in an exchange Web site and has also mentioned the maximum amount that he is willing to pay for it
If his willingness to pay is lower than the price of good-quality used washing machines, what is likely to happen?
One problem that might occur as a result of economic regulation is
A) the firm may be earning more than a normal rate of return on investment. B) the quality of service might be lowered. C) that social regulation may follow. D) the demand for the good may be greater than the supply.
As the marginal propensity to consume (MPC) decreases, the spending multiplier:
a. increases. b. decreases. c. remains constant. d. becomes undefinable.
Neo-Keynesians believe that the market power exercised by unions, monopolies, and particular resource suppliers created the Phillips curve
Indicate whether the statement is true or false