Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, Point F
A. is efficient and attainable.
B. cannot be produced with the current state of technology.
C. represents underallocation of resources.
D. represents what the people want.
Answer: B
You might also like to view...
Suppose the MRP of a firm's 12 th worker is $22 and the worker's marginal wage cost is $16. We can say with certainty that the firm:
A. is hiring labor in a competitive labor market at a wage rate of $16. B. is hiring labor in a monopsonistic labor market. C. will find it profitable to hire fewer workers. D. will find it profitable to hire more workers.
Assume that the yen price of one U.S. dollar rises to 80 yen and that the Bank of Japan has a target exchange rate of 75 yen per dollar. As a result, the Bank of Japan will intervene in the foreign exchange market by:
a. selling U.S. dollars and buying yen. b. selling both U.S. dollars and yen. c. buying U.S. dollars and selling yen. d. buying both U.S. dollars and yen. e. buying U.S. Treasury securities.
Refer to the table below. If these are the only four price options for a pound of sugar, what is the value of A?
The above table provides the possible prices for a pound of sugar next year along with the associated probabilities (in percent).
A) 0.45
B) 1.00
C) 0.10
D) 0.25
What happens when a supply curve shifts right?
What will be an ideal response?