The production possibilities curve represents the fact that:
A) the economy will automatically end up at full employment.
B) an economy's productive capacity increases proportionally with its population.
C) if all resources of an economy are being used efficiently, more of one good can be produced only if less of another good is produced.
D) economic production possibilities have no limit.
Ans: C) if all resources of an economy are being used efficiently, more of one good can be produced only if less of another good is produced.
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A) 50% B) 20% C) 90% D) 800%
Some people consider the NCAA (National Collegiate Athletic Association) to be a __________ in the market for college athletics
Fill in the blank(s) with correct word
Microeconomics focuses on
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Which statement is false?
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