Efficient production can be carried out anywhere on or below the production possibilities frontier.
Answer the following statement true (T) or false (F)
False
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Figure 7-10
In Figure 7-10, the curve B is
A. average fixed cost. B. average total cost. C. average variable cost. D. marginal cost.
Financial instruments with high information costs
A) will usually be more liquid than similar instruments with low information costs. B) will have lower yields than U.S. Treasury securities. C) may not be offered for sale in some states. D) will have lower prices than similar instruments with low information costs.
The condition of scarcity:
a. cannot be eliminated. b. prevails in poor economies. c. prevails in rich economies. d. All of these.
The real interest rate is defined as the:
a. actual interest rate. b. fixed-rate on consumer loans. c. nominal interest rate minus the inflation rate. d. expected interest rate minus the inflation rate.