Refer to Table 2-4. Assume Dina's Diner only produces sliders and hot wings. A combination of 60 sliders and 25 hot wings would appear
A) along Dina's production possibilities frontier.
B) inside Dina's production possibilities frontier.
C) outside Dina's production possibilities frontier.
D) at the vertical intercept of Dina's production possibilities frontier.
A
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Combinations to the left of the budget line are:
A. Unavailable and inefficient B. Unattainable and efficient C. Attainable and inefficient D. Attainable and efficient
Cartels can more easily detect cheating by cartel members if the products sold by each member are largely homogeneous
As product quality varies, the observed prices charged by cartel members may be due to differences in the products, or they may be due to cheating. Which of the following goods would more difficult to monitor for potential cheating? A) Aluminum ingots B) Industrial concrete C) Steel beams D) Luxury yachts
Economic growth can be illustrated by an outward shift of the PPC
a. True b. False Indicate whether the statement is true or false
Which of the following is not seen by economists as an underlying cause of business cycle fluctuations?
A. Unexpected financial bubbles that eventually burst. B. Shocks to the money supply by the nation's central bank. C. Supply shocks caused by major innovations. D. All of these are identified as causes of business cycle changes.