If more of one good can be produced without producing less of another output, the economy must have been operating efficiently
a. True
b. False
Indicate whether the statement is true or false
False
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Refer to Table 17.1. The labor force participation rate for this simple economy is
A) 25%. B) 40%. C) 50%. D) 60%.
In an agreement to exchange dollars for euros in three months at a price of $0.90 per euro, the price is the
A) spot exchange rate. B) money exchange rate. C) forward exchange rate. D) fixed exchange rate.
Which of the following is true about the demand for gasoline?
A) It is probably more price elastic in the long run because price will increase by a higher percentage. B) It is probably more price elastic in the long run because it is easier to find substitutes for gasoline in the long run. C) It is probably more price elastic in the short run because price will increase by a higher percentage. D) It is probably more price elastic in the short run because it is easier to find substitutes for gasoline in the short run.
Which of the following may shift the labor supply curve?
A. an increase in the corporate tax rate B. a decrease in the value people place on their time C. an increase in the price of the output of the firm D. an increase in worker productivity