A country that must reduce current consumption to increase future consumption possibilities
A) must be allocating resources inefficiently.
B) must be producing along the production possibilities curve.
C) must be producing outside the production possibilities curve.
D) must not have private ownership of property.
B
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Explain the difference between a change in quantity supplied and a change in supply
What will be an ideal response?
Expansionary fiscal policy can be used to reduce unemployment by
A) increasing long-run aggregate supply so as to raise real GDP. B) increasing aggregate demand so as to raise real GDP. C) reducing nominal wages so as to encourage firms to hire more workers. D) eliminating inefficiencies from labor markets.
After taking out a one year loan with an annual interest rate of 5 percent, Tommy pays $2,100 back to the bank. The principal of the loan must be ___________ and the interest payment must be ___________.
A. $2,000; $100 B. $2,100; $100 C. $100; $2,100 D. $100; $2,000
When a person is responsible for the outcome of the completing a task well it is called
a. sociological b. erg theory c. indefensible d. accountable