In the above figure, which point represents a situation with significant shortages of labor, capital, and other resources?
A) point F
B) point G
C) point I
D) point K
A
You might also like to view...
You can spend $10 for lunch and you would like to purchase two cheeseburgers. When you get to the restaurant, you find out the price for cheeseburger has increased from $5 to $6, so you decide to purchase just one cheeseburger. This is best described as:
A. the income effect of a price change. B. a decrease in the buyer's reservation price. C. the substitution effect of a price change. D. an increase in the buyer's reservation price.
When Dale visits the doctor, Dale does not pay for either the visit or any tests the doctor may order. From this we can infer that Dale must:
A. have first-dollar medical insurance coverage. B. have a medical insurance policy with a deductible. C. be underutilizing medical care. D. be a member of an HMO.
For a monopolist to earn a positive economic profit, price has to exceed average total cost at the level of output at which marginal revenue equals marginal cost
Indicate whether the statement is true or false
During the late 1980s and early 1990s, most of the budget deficits were accounted for by
a. the decline of foreign investment in the United States. b. the downturn in the economy. c. deliberate fiscal policy changes. d. All of the above are correct.