A production possibilities frontier figure does NOT illustrate
A) the limits on production imposed by our limited resources and technology.
B) the exchange of one good or service for another.
C) opportunity cost.
D) attainable and unattainable points.
B
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Because consumers who have insurance provided by their employers usually only pay a deductible for a visit to the doctor's office, they ________ of health care services than they would if they paid a price that better represented the true cost of
providing the service. A) supply a smaller quantity B) demand a smaller quantity C) demand a larger quantity D) supply a larger quantity
Which law was passed to outlaw certain practices not prohibited by the Sherman Antitrust Act?
a. the Clayton Act b. the Smoot-Hawley Act c. the Celler-Kefauver Anti-Merger Act d. the Wheeler-Lea Act e. the Federal Trade Commission Act
In the 1940s and 1950s, about one-third of U.S. workers belonged to unions, but today, only about one-fifth of U.S. workers belong to unions
a. True b. False Indicate whether the statement is true or false
Jeff decides that he would pay as much as $2,000 for a new laptop computer. He buys the computer and realizes a consumer surplus of $300 . How much did Jeff pay for his computer?
a. $300. b. $1,700. c. $2,000. d. $2,300.