Productive inefficiency could arise from
a. a waste of available labor
b. a lack of resources
c. an improvement in technology
d. a movement along the production possibilities frontier
e. too many goods being produced by the country or firm
A
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The Trans-Pacific Partnership (TPP) is an agreement between the United States and ________ that was meant to reduce trade barriers
A) South America B) the European Union C) China D) eleven other countries
Refer to Figure 2-15. In the circular flow diagram, market K represents
A) product markets. B) households. C) firms. D) factor markets.
Explain how the economy moves back to full employment from recession. Be sure to detail what happens to short-run aggregate supply, unemployment, equilibrium GDP and the price level
What will be an ideal response?
When a new firm begins production in the ________ model, it assumes its demand curve is the market demand less the amount the other firm is selling.
A. price leadership B. Cournot C. collusion D. cartel