If an economy is operating at a point inside the production possibilities curve, then
A) society's resources are being inefficiently utilized.
B) the curve will move to the left.
C) society's resources are being used to produce too many consumer goods.
D) economic policy must implemented to slow growth of the economy further.
A
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Everything else equal, the AC curve will shift when
A. the price of the product rises. B. technological change raises the MPP of one input. C. output rises. D. increasing returns to scale are present.
Recall the Application about the wireless phone service provided by thousands of entrepreneurial women in Pakistan to answer the following question(s).Recall the Application. What makes the wireless telephone market in the United States NOT perfectly competitive?
A. There are many buyers and many sellers in the United States. B. It is very expensive to enter the market in the United States. C. Wireless phone calls are a standardized product. D. All of these are correct.
The most effective way to reduce our current account deficit would be to
A. lower our service trade deficit. B. lower our merchandise trade deficit. C. raise our capital account surplus. D. lower our capital account surplus.
Your checking account balance is included in your bank's assets
Indicate whether the statement is true or false