In the figure above, moving from point B to point D
A) has an opportunity cost of one ton of butter per month.
B) has an opportunity cost of one ton of guns per month.
C) requires an increase in technology.
D) is impossible.
A
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When consumers are less confident about their jobs or incomes, they are more likely to
A) reduce purchases of durable goods than nondurable goods. B) increase consumption spending and decrease investment spending. C) reduce purchases of nondurable goods and increase purchases of durable goods. D) increase investment spending and decrease consumption spending.
Which statement best describes the trend in land allocation laws from the Land Ordinance of 1785 to the Homestead Act of 1862?
a. The changes were more favorable to those who held a conservative belief about land allocation. b. The changes were more favorable to those who held a liberal belief about land allocation. c. There was no consistent trend in the changes; some changes favored the conservatives and others favored the liberals.
Capitalism is based on all of the following except
A. the "invisible hand". B. the price mechanism. C. trust. D. equity.
Household income is ________ related to consumption and ________ related to household saving.
A. negatively; negatively B. positively; positively C. negatively; positively D. positively; negatively