The alternative combinations of goods and services that can be produced in a given time period with the available resources and technology is the:
A. Production possibilities.
B. Consumption possibilities.
C. International trade balance.
D. Comparative advantage.
A. Production possibilities.
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Pick the best answer using the economic way of thinking. If information is a scarce good, then ignorance might be
A) a sin. B) stupid. C) bliss. D) rational. E) inefficient.
The minimum wage is an example of a price ceiling
Indicate whether the statement is true or false
If a freeze destroys much of the crop of an agricultural nation, then
A) the desired investment curve would shift to the left. B) the desired investment curve would shift to the right. C) net foreign lending would increase. D) net foreign lending would decrease.
________ is an odorless and colorless gas, a product of the combustion of fossil fuels and burning wood. It is a leading cause of accidental poisoning in the U.S
a. Radon b. Carbon monoxide (CO) c. Nitrogen dioxide d. Sulfur dioxide