Productivity efficiency in saving lives
a. is not possible to today's economy
b. is guaranteed in today's economy
c. occurs when the economy is saving the maximum possible number of lives
d. requires producing on the economy's production possibilities frontier
e. occurs where the production possibilities frontier intersects the "lives saved" axis
D
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A sales tax imposed on tires ________ consumer surplus and ________ producer surplus
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases E) does not change; does not change
When inflation occurs, net exports will
A. increase as imports decrease. B. increase as exports increase. C. decrease as imports decrease. D. decrease as imports increase.
Game theory is the study of decision making in situations where strategic interaction occurs between rivals.
Answer the following statement true (T) or false (F)
The underground economy includes
A. babysitters paid in cash. B. landscapers. C. self-employed workers. D. babysitters on a payroll.