Every point on the joint production possibilities frontier represents
A) an initial endowment.
B) inefficient production.
C) the marginal rate of substitution of goods for each producer.
D) at least one producer specializing in production.
D
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When the economy is in the liquidity trap, the
A) LM curve is horizontal. B) LM curve is vertical. C) IS curve is horizontal. D) IS curve is vertical.
If government purchases increase and net taxes decrease, _____
Fill in the blank(s) with the appropriate word(s).
The amount of money paid to a retiree from a defined contribution plan depends on how well investments perform.
Answer the following statement true (T) or false (F)
If the demand for electricity is inelastic, then if the local electric company wants to increase its total revenue, it should ________ its price.
A. frequently change B. not change C. raise D. lower