Along a production possibilities curve showing capital and consumption goods production, which of the following pairs are being held fixed?
A. Unemployment and capital goods production.
B. Number of resources and technology.
C. Composition of the economy's output and number of resources.
D. Capital and consumption goods production.
Answer: B
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Refer to the table below. If the senior manager learns that either a Fair or Poor market will exist when the drug is introduced to the market, which drug should the senior manager pursue?
The senior manager of Rx Pharmaceuticals needs to decide which of three drugs the company should consider developing. The estimated profit for each of the drugs differs depending on the market conditions when the respective drugs are introduced to the market. The above table summarizes the estimated profit for each drug under each of the three market conditions; Good, Fair, and Poor.
A) Drug Z
B) Drug X
C) Drug Y
D) none of the drugs
Which of the following can increase customer interest?
a. Advertising b. Promotional activities c. Service d. All of the above
The figure below shows a shift in the production-possibility curve of a country from AB to AC. Here, S1 and C1 are the initial production and consumption points, respectively. S2 and C2 are the final production and consumption points, respectively. Which of the following is illustrated by this figure?
A. The benefits of trade in a small country B. The mechanism of reversal in trade pattern C. The immiserizing growth effect in a large country D. The validity of the product cycle hypothesis
In the absence of well-defined property rights, we would likely find
A. people with less incentives to take risks. B. increases in investment activity. C. higher economic growth rates. D. people with more incentives to take risks.