Technological innovations will cause:
A. the production possibilities curve to stay the same.
B. the production possibilities curve to shift to the left.
C. the production possibilities curve to shift to the right.
D. an economy to operate below its production possibilities curve.
Answer: C
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Thrift institutions encountered serious difficulties in the 1970s because: a. money market mutual funds became serious competitors for their deposits
b. the U.S. Treasury deposited larger sums of money than the thrift institutions could effectively manage. c. the interest rates they had to pay on deposits began to fall. d. each of the largest banks increased the pressure on the thrifts by building a nationwide network of branch banks. e. the FDIC increased the reserve requirement for thrifts.
What characteristic is common to perfect competition, monopolistic competition, and monopoly?
a. free entry and exit b. zero economic profit in the long run c. firms treat the market price as given d. firms maximize profits by producing where MR = MC e. small number of buyers relative to the number of sellers
Discuss the role that companies like Standard & Poor's, Dun & Bradstreet, and Moody's play in solving the problem of adverse selection.
What will be an ideal response?
Mike and Tom debone chicken breasts for Ted's Chicken Co. Mike is new and can only debone 30 chicken breasts per hour, while Tom's experience allows him to debone 60 chicken breasts per hour. Both Mike and Tom work 40 hours per week. Their average hourly productivity as a team is ________ chicken breasts.
A. 60 B. 30 C. 45 D. 90