Any point on a production possibilities frontier (PPF) itself is
A) production efficient.
B) unattainable.
C) inefficient.
D) equitable.
A
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Refer to the table above. At what rate did the country grow between 2006 and 2007?
A) 13.63% B) 17.47% C) 15.55% D) 19.24%
Regarding the production of health care, more recent studies suggest that:
A) economies of scale exist up to a hospital size of approximately 500 beds. B) hospitals of many different sizes can compete effectively with each other on the basis of cost. C) the LRAC curve exhibits significant diseconomies of scale beginning with a hospital size of approximately 100 beds. D) the LRAC for hospitals exhibits a very distinct U shape.
A decline in the exchange rate means that
a. the price of foreign exchange has declined. b. foreign currency has appreciated while the dollar has depreciated. c. foreign currency has depreciated while the dollar has appreciated. d. either a or c
When a firm is making a profit-maximizing production decision, which of the following principles of economics is likely to be most important to the firm's decision?
a. The cost of something is what you give up to get it. b. A country's standard of living depends on its ability to produce goods and services. c. Prices rise when the government prints too much money. d. Governments can sometimes improve market outcomes.