The concept that suggests that given the available inputs and technology, it is impossible to produce more of one good without decreasing the quantity that is produced of another good is:
a. the law of supply.
b. balanced production.
c. productive efficiency.
d. effective demand.
c. productive efficiency.
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If perfectly competitive firms exit a market, the
A) market supply curve shifts leftward. B) price of the good or service falls. C) profits of the remaining firms decrease. D) output of the industry increases.
An increase in the U.S. interest rate will most likely
A) reduce the attractiveness of investment in the United States. B) lead to a decrease in the value of the U.S. dollar. C) lead to an inflow of funds to the United States and an appreciation of the dollar. D) provide a stimulus to U.S. export industries.
If the average cost of flying the next flight is zero and one passenger is on the plane and has paid $50, should the next flight be flown?
A) Yes. B) No. C) Can't tell from the data provided. D) The plane should wait for at least one more passenger.
The required reserve ratio is 10 percent, but banks actually keep 20 percent on reserve. The actual money multiplier will be
a. 10. b. 9. c. 5. d. 2. e. 1.