Refer to the accompanying figure. Suppose that the government requires that resources be used efficiently. Which of the following would the government definitely not allow?
A. Production at point D.
B. Specialization in medical care production.
C. Specialization in warhead production.
D. Production at any point other than C.
Answer: A
You might also like to view...
Financial securities that represent promises to repay a specified amount of money at a particular point in the future are
A) bonds. B) stocks. C) commodities. D) mutual funds.
From the economic point of view, why will an avid downhill skier devote many hours to reading, comparing, and testing a new pair of ski boots but only a few hours to deciding who to vote for in the state senator race?
A) Ski boots are ultimately more important to society than state senators. B) He needs new ski boots; he does not need a new state senator. C) In his estimation, being highly informed about ski boots is a better use of his time compared to being highly informed about potential state senators. D) He is selfish.
Holding supply constant, an decrease in demand leads to
A. lower prices and higher quantity supplied. B. lower prices and lower quantity supplied. C. higher prices and lower quantity supplied. D. higher prices and higher quantity supplied.
How are unemployment, inflation, and the business cycle related?
What will be an ideal response?