The production possibilities frontier
A) depicts the boundary between those combinations of goods and services that can be produced and those that cannot given resources and the current state of technology.
B) shows how many goods and services are consumed by each person in a country.
C) is a model that assumes there is no scarcity and no opportunity cost.
D) is a graph with price on the vertical axis and income on the horizontal axis.
A
You might also like to view...
A price searcher can move its marginal revenue curve closer to its demand curve if it can
A) achieve significant economies of scale. B) charge different buyers different prices for the same good. C) price at the point of unit demand elasticity. D) produce at constant marginal cost. E) set marginal revenue equal to marginal cost.
Which of the following names is given to the corporate bonds that carry the maximum risk?
a. Risky-time bonds b. Failure bonds c. Revelation bonds d. Blue-chip bonds e. Junk bonds
Explain the rational expectations hypothesis.
What will be an ideal response?
It has been proposed that a government agency be charged with the responsibility for determining the amount of pollution which the atmosphere or a body of water can safely recycle, and sell these limited rights to polluters. What would be the advantage of such a market for pollution rights?
What will be an ideal response?