An economy producing at an interior point of its production possibility frontier is ___
a. efficient, the economy is producing the highest possible quantities of all the goods
b. inefficient, because resources are not full employed.
c. efficient, because the economy is producing goods at the lowest possible cost
d. inefficient, because that combination of goods could be produced at a lower cost if more efficient technology were employed
b. inefficient, because resources are not full employed
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Currently, well over half of the American workforce is comprised of women.
Answer the following statement true (T) or false (F)
Macroeconomics deals with the analysis of all of the following questions except
a. Why do national economies grow? b. What determines a nation's saving and investment? c. How does a central bank influence inflation? d. Why does a country experience recessions? e. How does Microsoft price its software packages?
Two variables that have a positive correlation move in the same direction
a. True b. False Indicate whether the statement is true or false
Which statement is true?
A. Because of their large populations, India and China have relatively high per capita GDPs. B. The only way to industrialize is to build up capital in the form of new plant and equipment. C. The NICs have the highest per capita GDPs in the world. D. We find GDP per capita by dividing GDP into population.