Study the graph. Suppose this nation starts with producing all military goods. It then decides to produce a mix of civilian and military goods represented by point B. What represents the costs in military goods given up?
What will be an ideal response?
Answer: the vertical distance from point a to point x
You might also like to view...
Traditionally, Wall Street investment banks had been organized as partnerships, but by 2000 they had converted to being publicly traded companies
As partnerships, the principal-agent problem is ________ because there is ________ separation of ownership from control. A) increased; little B) reduced; much C) reduced; little D) increased; much
Refer to Figure 18-4. Rank the above panels in terms of most unequal income distribution to least unequal income distribution
A) Panel C, Panel B, Panel A B) Panel B, Panel C, Panel A C) Panel A, Panel B, Panel C D) Panel A, Panel C, Panel B
When an economy experiences deflation, investment will:
A. decrease, because businesses will not take out loans that will increase in value over time. B. increase, because businesses will take out loans that will increase in value. C. decrease, because businesses will spend cash instead of borrowing it. D. increase, because businesses will spend cash instead of borrowing it.
The branch of economics that studies the aggregate decisions of all households and all firms is called: a. positive economics
b. normative economics. c. microeconomics. d. macroeconomics.