In Figure 1.1, which labeled point indicates that there are sufficient resources and technology to produce the combination of goods represented by that point?
A. only A
B. only B and C
C. only D
D. A, B, and C
Answer: D
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Asset prices in an economy are likely to fall if ________
A) firms' revenues rise B) labor supply falls C) labor demand increases D) investment falls
Refer to Table 9-2. Select the statement that accurately interprets the data in the table
A) Gabriel has a comparative advantage in baking pies and baking cakes. B) Gabriel has an absolute advantage in baking cakes. C) Gabriel has a comparative advantage in baking pies. D) Sarita has a comparative advantage in baking pies.
Refer to the above figure. Suppose the government requires the natural monopolist to charge the efficient price. Then profits for the firm will be
A) zero. B) losses equal to Q4 times distance f-g. C) losses equal to Q3 times distance d-e. D) profits equal to Q1 times distance a-b.
Addressing the natural rate of unemployment is
a. straightforward in theory but difficult in practice. b. straightforward in theory and in practice. c. difficult in theory and in practice. d. straightforward in practice but difficult in theory.