In the figure above, suppose that Mac and Izzie trade and reach point c. Then
A) Mac produces outside his production possibilities frontier.
B) Izzie produces outside her production possibilities frontier.
C) Mac and Izzie both produce outside their production possibilities frontiers.
D) neither Mac nor Izzie produce outside their production possibilities frontiers.
D
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Someone who has the desire to work but has no exceptional abilities and has not acquired the skills necessary for a well-paying job is likely to escape poverty completely
a. True b. False Indicate whether the statement is true or false
In the short-run macro model, the change in inventories will
a. equal output minus aggregate expenditures b. trigger a price change c. equal investment minus depreciation d. equal sales minus investment e. be matched by an equal and opposite change in the subsequent period
If firms sell exactly what they expected to sell then
What will be an ideal response?
________: the change in output or total product the business would achieve in the current period by expanding the use of an input by another unit
Fill in the blank(s) with correct word