Commodity egalitarianism suggests that some goods be available to everyone.
A. True
B. False
C. Uncertain
A. True
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When the difference between potential GDP and actual GDP increases, the nation usually suffers from increased inflation
a. True b. False Indicate whether the statement is true or false
An economy's production possibilities frontier is also its consumption possibilities frontier
a. under all circumstances. b. under no circumstances. c. when the economy is self-sufficient. d. when the rate of tradeoff between the two goods being produced is constant.
Goods that have spillover costs affect our collective well-being and therefore can be overproduced because
A. Most businesses are more concerned about profits than how the environment is affected. B. The government has failed to establish rules for contracts. C. The government is concerned about broad economic welfare. D. The government has failed to enforce contract provisions.
(Consider This) The economic perspective used in customer decision making at fast-food restaurants is reflected in:
A. customers selecting the shortest line. B. decisions for which marginal costs exceed marginal benefits. C. all customer lines tending to be of different lengths. D. irrational purchasing of high-fat-content food.