All of the points inside a production possibilities frontier are ____; all of the points outside the production possibilities frontier are ____.
A. efficient; inefficient
B. optimal; irrational
C. attainable; unattainable
D. rational; zero-cost
E. unattainable; efficient
Answer: C
You might also like to view...
A monetary system is preferable over the barter system because it
A) is easier to track by the government. B) limits cash leakages. C) reduces transaction costs. D) is determined by the Congress.
Holding everything else constant, a decrease in the price of GPS systems will result in
A) a decrease in the supply of GPS systems. B) an increase in the quantity of GPS systems demanded. C) an increase in the demand for GPS systems. D) an decrease in the quantity of GPS systems demanded.
What is the multiplier? If MPC =0.75, what is the value of the multiplier in the simple model of the economy?
What will be an ideal response?
_____ is a good measure of economic well being if policy makers want to satisfy the preferences of buyers
Fill in the blank(s) with the appropriate word(s).