The Great Depression of the 1930s, with a large number of workers and factories unemployed, would be represented in a production possibilities frontier graph by
A) a point outside the frontier.
B) an intercept on either the vertical or the horizontal axis.
C) a point inside the frontier.
D) a point on the frontier.
C
You might also like to view...
Regulatory forbearance
A) meant delaying the closing of "zombie S&Ls" as their losses mounted during the 1980s. B) had the advantage of benefiting healthy S&Ls at the expense of "zombie S&Ls," as insolvent institutions lost deposits to health institutions. C) had the advantage of permitting many insolvent S&Ls the opportunity to return to profitability, saving the FSLIC billions of dollars. D) increased adverse selection dramatically.
Demand and supply curves are drawn assuming ceteris paribus. This means that:
A) economists ignore all assumptions. B) economists don't watch for the fallacy of false cause. C) changes will be proportional. D) all other things besides price and quantity are assumed unchanged.
If the price of a good purchased by a utility-maximizing consumer goes down, all other things remain the same, and the consumer's income is adjusted so that he can just barely attain his previous level of satisfaction, and if the consumer has indifference curves of the usual shape, it will be found that:
A. the consumer will stop purchasing the good at all. B. more of the good will be purchased than before. C. less of the good will be purchased than before. D. the same amount of the good will be purchased as before.
To determine the class interval
A) Divide the class frequencies in half. B) Divide the class frequency by the number of observations. C) Find the difference between consecutive lower class limits. D) Count the number of observations in the class