In the figure above, point E could be obtained if
A) resources were shifted from education to health care.
B) resources were used more efficiently.
C) society's resources increased.
D) resources were shifted from health care to education.
C
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Refer to Figure 12-9. At price P4, the firm would
A) shut down. B) lose an amount equal to its fixed cost. C) lose an amount less than fixed cost. D) make a profit.
Accounting costs represent
A) explicit costs paid by the firm. B) opportunity costs. C) both sunk and future costs. D) long run costs only.
Jim is haggling with a car dealer over the sale price of a used car. When he entered the store, the storekeeper was already haggling with the other customer. His bargaining position could get worse if
a. The customer leaves b. Another customer enters the store, interested in the car c. He gets an offer from another seller d. All of the above
The structural deficit does not depend on the state of the economy.
Answer the following statement true (T) or false (F)