If you discover that the opportunity cost of raising your economics grade is zero, you
a. are studying too hard and receiving a higher grade than is optimal for you.
b. must be on the production possibilities frontier that describes your trade-offs between producing high grades and producing other goods.
c. must be inside the production possibilities frontier that describes your trade-offs between producing high grades and producing other goods.
d. must be producing more of other goods than is optimal for you.
c
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Privatization results in
a. a return to economic liberalism. b. a reduction in government economic functions. c. guaranteed improvement in consumer service. d. diminishing returns.
Even if we were able to completely eliminate greenhouse gas (GHG) emissions today, the problems associated with the accumulated stock of GHGs in the atmosphere will persist for a long time because:
A) their dissipation rate is very low. B) their dissipation rate is very high. C) the social discount rate is very low. D) the social discount rate is very high.
In the simple circular-flow diagram, the participants in the economy are
a. firms and government. b. households and firms. c. households and government. d. households, firms, and government.
the United States economy is operating at peak efficiency, it is on its ___________________________.
Fill in the blank(s) with the appropriate word(s).