Once a point on a contract curve has been chosen,
A) it is possible to make both individuals better off.
B) it is possible to make one individual better off only at the expense of the other.
C) there is no change that would make both individuals worse off.
D) it is impossible for both individuals to have more of both goods.
B
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A corporation's market capitalization is best described as
A) the total value of its stocks and bonds. B) the total value of its common and preferred stock. C) its total profit for a particular year. D) its average profit over a period of years.
According to Say's law, there cannot be overproduction of goods and services because:
a. planned aggregate expenditures sometimes fall short of total output. b. prices and wages are "sticky" or inflexible in the downward direction. c. demand creates its own supply. d. supply creates its own demand.
The fact that the aggregate demand curve slopes downward means that aggregate expenditures increase when the price level decreases
a. True b. False Indicate whether the statement is true or false
An economic naturalist is someone who:
A. studies the process of natural selection in a cost-benefit framework. B. has an innate talent for using economic concepts. C. applies economic insights to understand everyday life. D. uses economic arguments to protect the environment.