Which of the following would cause an economy to produce at a point inside its production possibilities curve?
A) the efficient allocation of all factors of production
B) population growth
C) unemployment and an inefficient use of available resources
D) capital accumulation
C
You might also like to view...
Describe the advantages that a negative income tax has over other programs designed to aid the poor
A firm's opportunity costs of production are equal to its
a. explicit costs only. b. implicit costs only. c. explicit costs + implicit costs. d. explicit costs + implicit costs + total revenue.
When the actual price level in an economy turns out to be lower than that expected in the short run, _____
Fill in the blank(s) with the appropriate word(s).
Reform of a country's trading system, including the reduction or elimination of trade barriers, is an example of
A) an orthodox stabilization plan. B) a heterodox stabilization plan. C) import substitution industrialization. D) structural reform.