The production possibilities frontier shows the ________ combinations of two products that can be produced in a particular time period with available resources
A) equitable B) maximum attainable
C) only D) minimum attainable
B
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All goods and services are sold in perfectly competitive markets
a. True b. False Indicate whether the statement is true or false
Governments require immunizations of school children and offer immunization shots for free to low income people because:
A. parents are often negligent of the health of their children. B. immunizations are private goods with external benefits. C. immunizations are very costly. D. All of these
Which of the following would NOT be a sign that China wants to become a high technology producer?
A) More patents are being sought and granted in China. B) Large spending on infrastructure C) Rapid expansion of science, engineering and research D) Less emphasis on education spending
An increase in the excise tax imposed upon consumers of gasoline
A. shifts the market price of gasoline. B. shifts the demand for gasoline to the right. C. shifts the demand for gasoline to the left. D. shifts the supply of gasoline to the right.