If an economy is producing at full employment, it means that:
a. there are idle resources in this economy.
b. the production is not efficient.
c. the economy is producing along its production possibilities curve.
d. the economy is producing at a point that is to the left of the production possibilities curve.
e. the economy is producing at a point that is to the right of the production possibilities curve.
c
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Population density varies little between the 50 states.
Answer the following statement true (T) or false (F)
If the marginal benefit of getting a college degree rises, rational people will
A) drop out of college. B) not change their behavior. C) attend college in greater numbers. D) require that college get easier. E) raise the marginal cost of attending college.
Generally speaking, the percent of people living in poverty in the United States is larger in the south than it is in the north
a. True b. False
Some economists believe that monopolies are both inevitable and beneficial to society. They believe that monopolies are more efficient than competitive markets and generate lower prices. For these reasons they oppose _________ and advocate __________
a. antitrust laws; laissez-faire b. laissez-faire; antitrust laws c. nationalization; regulation d. regulation; nationalization e. antitrust laws; nationalization