In an open economy, a society's consumption possibilities are typically ________ its production possibilities.

A. less than
B. unrelated to
C. equal to
D. greater than


Answer: D

Economics

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Since 1970, the U.S. Gini ratio has

A) increased. B) decreased. C) increased and then decreased. D) decreased and then increased.

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Intraindustry trade can lead to lower prices and job creation in both the exporting and the importing nation

Indicate whether the statement is true or false

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A manager of a firm with market power faces the marginal revenue product and average revenue product curves shown below. The firm incurs weekly fixed costs of $1,800. The firm employs a single variable input, labor, which costs $600 per worker each week. ssGiven the above, in profit-maximizing (or loss-minimizing) equilibrium, the firm's total variable costs are

A. $400. B. $12,000. C. $6,000. D. $600. E. none of the above

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The process of taking advantage of market inefficiencies to earn profits is called:

A. futures contracting. B. arbitrage. C. technical analysis. D. a random walk.

Economics