Referring to the Production Possibilities Frontiers in Figure 1.10 A, B, C, and D, which depicts specialized growth in soda when there is constant opportunity cost.
Figure 1.10
A. Fig. A
B. Fig. B
C. Fig. C
D. Fig. D
Answer: C
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All of the following are real quantities except the:
A. millions of computer chips shipped to computer makers. B. tons of steel shipped to South America. C. number of new cars produced in one year. D. billions of dollars invested in stocks.
When government spending is equal to the tax revenues during a specific time period, this is known as a
A) government budget deficit. B) government budget surplus. C) balanced budget. D) public debt.
Ceteris paribus is the same as rise / run
Indicate whether the statement is true or false
If you think that the economy is entering a recession, and fear that you might lose your job, explain how your actions of lowering your consumption level might actually increase the probability that you do lose your job