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 E necessarily represents
A. only motorcycles being produced.
B. overallocation of resources.
C. an impossible production point.
D. technological advancement.
Answer: A
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According to the text, a government policy of promoting competition must
A) assure small businesses they won't fail because of below-cost pricing or other predatory practices by larger businesses. B) assure small businesses they won't fail under any circumstances. C) equate profit margins among competing suppliers. D) maintain a process rather than some state of affairs. E) work toward making sellers' demand curves completely elastic.
The Wilshire 5000 stock index is made up of the stocks of 5,000 of the largest U.S. companies.
Answer the following statement true (T) or false (F)
The above figure shows the isoquants for producing steel. Increasing returns to scale are
A) present when producing less than 10,000 tons. B) present when producing less than 20,000 tons. C) present when producing less than 30,000 tons. D) never present.
Households and firms pay taxes to the government to:
a. increase their consumption spending. b. finance the country's import bill. c. increase their savings. d. improve their standard of living. e. finance government expenditures.