An economy's PPC illustrates the extent to which the economy consumes what it produces
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
Helga owns Viking, Inc., started with her $100,000 inheritance. Helga’s accountant informs her that her firm earned a profit of $100,000 last year, and that if she chooses to invest the money she can expect a 10 percent return. If Helga did not run Viking, she would not work. What were Helga’s economic profits last year?
A. Zero B. $100,000 C. $90,000 D. $95,000
The Lorenz curve shows what portion of total money income is accounted for by
A) different proportions of a country's households. B) only the wealthiest citizens. C) only poor people. D) taxpaying citizens only.
A firm that faces a downward sloping demand curve is known as a
A) price taker. B) utility maximizer. C) price searcher. D) perfect competitor.
Refer to the information provided in Table 14.5 below to answer the question that follows. Table 14.5B's Strategy ?AdvertiseDon't Advertise??A's profit $200 millionA's profit $400 million?AdvertiseB's profit $200 millionB's profit $100 millionA's Strategy????Don'tA's profit $100 millionA's profit $150 million?AdvertiseB's profit $400 millionB's profit $150 millionRefer to Table 14.5. If both firms follow a maximin strategy, the equilibrium in the game is
A. (Don't Advertise, Advertise). B. (Advertise, Don't Advertise). C. (Advertise, Advertise). D. (Don't Advertise, Don't Advertise).