Point C on the production possibilities frontier in the above diagram illustrates
A) a point that achieves production efficiency.
B) a combination of goods and services that cannot be produced efficiently
C) all goods and services that are desired but cannot be produced due to scarce resources.
D) a production point that has underutilization of resources
A
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Increases in the marginal product of labor result from
A) increasing the usage of all inputs. B) the division of labor and specialization. C) the use of new technology. D) hiring more efficient workers.
The difference between GDP and net taxes is
A) actual investment spending. B) personal income. C) unplanned investment spending. D) disposable income.
Mancour Olson believes that developed nations have experienced an eventual slowing of their growth because of ____.
Fill in the blank(s) with the appropriate word(s).
Exhibit 12-1 Business cycle
?
In Exhibit 12-1, the recovery phase of the business cycle can be represented by points:
A. A. B. C. C. E to G. D. C to E.