The production possibilities curve marks the boundary between attainable and unattainable combinations of output
a. True
b. False
Indicate whether the statement is true or false
True
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As long as a bank's stockholders' equity is greater than zero:
A) the stockholders in the bank bear all the risk involved. B) the customers of the bank bear all the risk involved. C) the bank bears all the risk involved. D) bank runs are not possible.
Some sales managers are talking sho
A) "Since our competitors raised their prices our sales have doubled." B) "It has been an unusually mild winter; our sales of wool scarves are down from last year." C) "We decided to cut our prices, and the increase in our sales has been remarkable." D) none of the above
Ken and Traci are two woodworkers who both make tables and chairs. In one month, Ken can make 3 tables or 18 chairs, whereas Traci can make 8 tables or 24 chairs. Given this, we know that the opportunity cost of 1 chair is
a. 1/6 table for Ken and 1/3 table for Traci. b. 1/6 table for Ken and 3 tables for Traci. c. 6 tables for Ken and 1/3 table for Traci. d. 6 tables for Ken and 3 tables for Traci.
In the production of corn, millions of farmers world-wide are ________, so there is ________ on economic profits to go to zero.
A. oligopolists; pressure B. monopolists; no pressure C. perfect competitors; pressure D. oligopolists; no pressure