A country operates inside its production possibilities curve; this may be caused by
A. a lack of modern products being produced.
B. total efficiency in industry.
C. a new resource being discovered.
D. unemployed resources.
Answer: D
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Of the following products, which is most standardized?
a. pizza b. concrete c. automobiles d. clothing e. paintings
A firm's level of investment is tied to the interest rate
a. only when the firm has to borrow funds to buy capital b. only when the firm has to borrow funds to buy stocks c. only when the firm already has the funds and could lend them d. because the interest rate represents the opportunity cost of investing in capital e. because investments are always made with borrowed funds
The closer the industry concentration ratio is to 100, the more likely it is that
A. there are a reasonably large number of medium-sized firms. B. this is an industry approaching perfect competition. C. there is a small number of large firms. D. price competition is being practiced.
The supply curve for loans to high-risk borrowers is _________ the supply curve for loans to low-risk borrowers.
A. below B. to the right of C. flatter than D. to the left of