Refer to the accompanying figure. For the nation whose PPC is shown, it must be true that:
A. the nation's productive resources are better-suited to making milk than to making movies.
B. some of the nation's productive resources are better-suited to making milk, and some are better-suited to making movies.
C. the nation's productive resources are better-suited to making movies than to making milk.
D. the nation has a comparative advantage in making milk.
Answer: B
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A) half a year B) approximately 10 years C) 28.6 years D) 35 years
It is most likely that the federal government will never actually pay off the national debt.
Answer the following statement true (T) or false (F)
Refer to the above table. What does the marginal product equal when the quantity of labor goes from 1 to 2?
a. 26 b. 92 c. 23 d. 46
All types of unemployment are harmful to the economy
a. True b. False