The economy moves from point A, where it produces 100 units of X and 200 units of Y, to point B, where it produces 200 units of X and 150 units of Y. It follows that
What will be an ideal response?
point A may be a productive efficient point
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Which of the following represents a collective action problem?
A) The battery in Billy's pickup truck has died so he must leave his house 90 minutes earlier than usual to take public transportation to work. B) Sonia cuts down a diseased oak tree in her back yard, eliminating the shade that blocked the afternoon sun from shining through her living room windows. C) Miss Lander's third grade class has to cut short their field trip to Insect World because someone in Mr. Rutherford's fourth grade class accidentally opened the safety door in the bumblebee exhibit. D) Most of the audience cannot hear the dialog at a midnight showing of The Room because the film's most ardent fans insist on shouting with the dialog throughout the entire screening.
According to Keynes, the primary determinant of a person's saving is NOT
A) the person's level of income but the desired real income of the person. B) the person's level of savings but the expected interest rate in the near future. C) the interest rate but the level of savings the person has. D) the interest rate but the level of the person's real disposable income.
A contour map illustrates a cause-and-effect relationship among three variables.
Answer the following statement true (T) or false (F)
A firm in a competitive market can change the market price by changing its own production level
a. true b. false