We could increase the production of both heart transplants and round-the-world trips if we moved to point T from point
A. P.
B. Q.
C. R.
D. S.
A. P.
You might also like to view...
Why is home ownership a source of capital income?
What will be an ideal response?
Refer to Figure 8A.1. Suppose that the economy starts with a capital stock of K0. Then total saving is given by point ________ and depreciation by point ________
A) c; d B) b; a C) d; c D) a; b
When a government increases an effective price ceiling for a product
A) the shortage in the market will be reduced. B) the shortage in the market will be increased. C) the surplus in the market will be reduced. D) the surplus in the market will increase.
Because the natural rate of unemployment is not known precisely, policymakers who use it as a guide for policy must be
A. more aggressive with policy changes than they would be if they knew the value of the natural rate. B. less aggressive with policy changes than they would be if they knew the value of the natural rate. C. ready to change policy more quickly. D. aware of other data.