On a production possibilities curve diagram, greater entrepreneurship:
A. causes the curve to shift outward.
B. keeps the economy on the curve.
C. prevents movement along the curve.
D. keeps the economy at the corners of the curve.
Answer: A
You might also like to view...
In a perfectly competitive labor market, at the equilibrium wage rate:
A) cyclical unemployment is negative. B) frictional unemployment is positive. C) frictional unemployment is zero. D) cyclical unemployment is positive.
Assume you have four tickets to a U2 concert. You decide to sell each of them separately on an auction site such as eBay. Your auctions represent
A) price differentiation. B) perfect price discrimination amongst those who bid for your tickets. C) perfect price discrimination amongst all people who buy tickets for the concert. D) an illegal act, subject to state and federal prosecution.
In a market system, what determines how goods and services will be produced?
A. Firms determine how goods and services will be produced. B .Consumers, firms, and the government determine together how goods and services will be produced. C. Consumers determine how goods and services will be produced. D. The government determines how goods and services will be produced.
The price elasticity of demand measures the responsiveness of consumers to changes in the price of a product.
Answer the following statement true (T) or false (F)