The production possibilities curve demonstrate which of the following concepts?
A) scarcity
B) choice
C) trade-offs
D) all of the above
D
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Most businesses in the United States are ________, and the type of business organization that accounts for the LEAST amount of total revenues is ________
A) proprietorships; partnerships B) corporations; proprietorships C) proprietorships; proprietorships D) corporations; partnerships
Declines in business inventories enter national income accounts: a. negatively in the consumption category. b. negatively in the investment category. c. negatively in the net export category
d. positively in the profits category.
Import quotas have a negative impact on poor nations because they make it difficult for poor nations to
A. Sell agricultural goods to each other. B. Develop a pro-business environment. C. Sell agricultural goods to rich nations. D. Receive foreign aid from rich nations.
With the economy booming, the government starts to worry about the increasing rate of inflation, and decides to cut its spending on highway maintenance and defer it to sometime in the future. This is an example of:
A. discretionary fiscal policy. B. expansionary fiscal policy. C. an automatic stabilizer. D. None of these is true.