If a country is operating at a point of production efficiency,
A) it operates on its trade line.
B) it cannot be producing at its point of comparative advantage.
C) it produces on its production possibilities frontier.
D) it must specialize in the production of a good.
E) it enjoys a free lunch when increasing production.
C
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The machines workers have to work with are considered
A) entrepreneurship. B) financial capital. C) human capital. D) physical capital.
Product differentiation always leads to some measure of market power
a. True b. False Indicate whether the statement is true or false
Which of the following is not an example of the issue of time inconsistency?
A) a central bank announced to maintain low inflation and at the same time increased money supply B) a government stated that they will not negotiate with hostage takers. When someone is taken hostage, it negotiates C) a mom says to her kids no cookie before meals and she never gives cookies before her kids eat their meals D) a person on diet eats ice cream for dinner
The practice of lending very small amounts of money, without collateral, and accepting small savings deposits is known as
A. capital flight. B. microfinance. C. a stabilization program. D. debt rescheduling.