If the economy could produce 42 consumer goods and 12 capital goods, given the current production possibilities curve, the economy would be producing ___________________ (outside/on/inside) the curve.
Hypothetical Production Schedule for a Two-Product Economy
outside
Economics
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C + I + G + NX equals:
A. the output gap. B. aggregate expenditure. C. potential GDP. D. the income-expenditure multiplier.
Economics
The market demand curve in a perfectly competitive market is downward sloping
Indicate whether the statement is true or false
Economics
If average fixed cost and average variable cost are summed together, the result is: a. total revenue
b. total profit. c. total cost. d. average total cost.
Economics
A perfectly inelastic supply curve is vertical
a. True b. False Indicate whether the statement is true or false
Economics