Which one of the following will determine the size of the production possibilities curve?
a. amount of labor
b. amount of capital
c. entrepreneurship
d. all of the above
d
You might also like to view...
All else constant, an increase in the number of buyers in the market for cell phone service would cause:
A) equilibrium price and quantity to increase. B) equilibrium price and quantity to decrease. C) equilibrium price to increase and equilibrium quantity to decrease. D) equilibrium price to decrease and equilibrium quantity to increase.
A profit-seeking firm will choose the combination of inputs that:
A. maximizes profit. B. maximizes costs. C. has the lowest average variable cost. D. has the lowest average total cost.
Suppose the government imposes a tax of 20 percent on the first $50,000 of income and 30 percent on all income above $50,000 . What is the marginal tax rate when income is $60,000?
a. 10 percent b. 20 percent c. 30 percent d. 50 percent
The decision about how much money to hold is an application of the:
A. equilibrium principle. B. cost-benefit principle. C. principle of comparative advantage. D. scarcity principle.