Consider the production possibilities frontier displayed in the figure shown. A society faced with this curve currently:
A. can only obtain point C.
B. cannot obtain point C.
C. cannot - obtain point B.
D. can only obtain point D or point A.
Answer: C
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A linear demand curve has a:
A. constant slope and a constant elasticity, but they need not be equal. B. changing slope, but constant elasticity. C. constant slope, but changing elasticity. D. slope which is the same as the elasticity.
Thomas Malthus's model made the mistake of failing to consider:
A. comparative advantage. B. scarcity. C. technological progress. D. inflation.
If one euro nation is experiencing rapid growth and inflation while another is facing sluggish growth and recession:
A. the two countries will disagree about the monetary policy that ought to be employed by the European Central Bank. B. only an appreciation of the euro can help both countries simultaneously. C. the European Central Bank ought to employ a tight monetary policy. D. the European Central Bank ought to employ an easy monetary policy.
In terms of which party or parties capture any gains from a land transaction, what is the difference when land is acquired through eminent domain and when land is acquired through the bargaining process?
What will be an ideal response?