The production possibilities frontier is the boundary between the
A) rational and irrational choices facing a society.
B) wanted and unwanted combinations of goods and services.
C) goods and services that the economy can produce.
D) affordable and unaffordable combinations of production.
E) attainable and unattainable combinations of goods and services.
E
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Explain the output and factor substitution effects of an increase in the price of capital on theDemand for labor by a firm that produces output using both capital and labor
What will be an ideal response?
The federal budget was in deficit from 1931 to 1939, except in the year 1937
Given this fact, how do you explain E. Cary Brown's statement, "Fiscal policy, then, seems to have been an unsuccessful recovery device in the 'thirties-not because it did not work, but because it was not tried."
Describe the two sources of economies of scale and how these economies of scale lead to intraindustry trade
What will be an ideal response?
Everything else held constant, if aggregate output is to the ________ of the IS curve, then there is an excess supply of goods which will cause aggregate output to ________
A) right; fall B) right; rise C) left; fall D) left; rise