When a firm or economy is operating efficiently, it is operating
A. outside its production possibilities frontier.
B. inside its production possibilities frontier.
C. on its production possibilities frontier.
D. at the intersection of the production possibilities frontier and the vertical axis.
E. at the intersection of the production possibilities frontier and the horizontal axis.
Answer: C
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Answer the following statement true (T) or false (F)
Budget deficit is the amount by which the government’s expenditures exceed its receipts during a specified period of time, usually a year.
Answer the following statement true (T) or false (F)
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Indicate whether the statement is true or false
In a publicly traded corporation, which of the following is responsible for business debts and activities?
A. The corporation itself. B. The individual stockholders. C. The board members. D. The owners.