Scarcity is represented on a production possibilities frontier figure by
A) the amount of the good on the horizontal axis forgone.
B) the fact that there are only two goods in the diagram.
C) technological progress.
D) the fact there are attainable and unattainable points.
D
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Which of the following economists did not help to develop game theory analysis?
A) John Nash B) Adam Smith C) Oskar Morgenstern D) John von Neumann
The price of one nation's currency in terms of the currency of another nation is called the
A) IMF rate. B) fed funds ratio. C) exchange rate. D) discount rate.
Life expectancy in the U.S.:
a. is the highest in the world b. is the lowest in the world c. ranks about 100th in the world d. ranks about 40th in the world
The incidence of cigarette taxes falls mainly on
A. smokers. B. retail sellers of cigarettes. C. cigarette producers. D. people who are no longer exposed to second-hand smoke.