A point inside the production possibilities curve represents a combination of goods that is
a. inefficient.
b. efficient.
c. unattainable.
d. attainable.
A
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The above figure shows how many pounds of peanuts farmers are willing to sell at different prices per pound of peanuts. If the price of a pound of peanuts is $1 and the price of a pound of pecans is $2, peanut farmers are willing to sell
A) no peanuts. B) 1000 pounds of peanuts. C) 2000 pounds of peanuts. D) 4000 pounds of peanuts.
Population growth is similar to depreciation, in that ________
A) each lowers the capital-labor ratio B) each tends to encourage saving C) capital wears out faster when used by more workers D) each helps to explain how economies can sustain a positive growth rate of output
Which of the following statements is correct?
A. If the profit-maximizing rule is fulfilled, it necessarily follows that the cost-minimization rule is being fulfilled. B. The profit-maximizing and the cost-minimizing rules are such that the fulfilling of one has no bearing on the fulfilling of the other. C. If the profit-maximizing rule is fulfilled, the cost-minimization rule may or may not be fulfilled. D. If the cost-minimization rule is fulfilled, it necessarily follows that the profit-maximizing rule is being fulfilled.
Why are so few state chartered banks members of the Federal Reserve System?
What will be an ideal response?