If we consider the reality that each worker has different skills, then the production possibilities frontier would:
A. have a convex shape.
B. have a concave shape.
C. be a straight line.
D. shift outward.
B. have a concave shape.
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Which of the following mathematical expressions represents the equation of a straight line with a slope of zero at all points on a graph with Y on the vertical axis and X on the horizontal axis?
A. Y = a + X B. X = bY C. X = a D. Y = a
Labor productivity typically rises when ________
Fill in the blank(s) with the appropriate word(s).
In the above figure, if a subsidy is granted that generates an efficient allocation of resources, then the output level will be
A) zero. B) 50 units per week. C) 150 units per week. D) 250 units per week.
The Dow reached a peak of over 11,000 before the collapse of the ________ bubble in 2000
A) housing B) manufacturing C) high-tech D) banking