The Great Depression of the 1930s, with a large number of workers and factories unemployed, would be represented in a production possibilities frontier by
A) a point inside the frontier.
B) a point outside the frontier.
C) a point on the frontier.
D) an intercept on either the vertical or the horizontal axis.
Answer: A
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You went to a craft show and paid an exorbitant price for an embroidered shawl that the seller said was hand-embroidered and had been imported from India
Several months later, you find a similar shawl in another showroom at a much lower price and found out that the one you bought was not an imported one. This is an example of ________ in the market for embroidered shawls. A) asymmetric information B) positive externalities C) negative externalities D) the free-rider problem
A few years ago, you bought a bond with no expiration and a fixed annual interest payment of $1,000 at a price of $10,000. If the interest rate in the economy is now 12.5% a year and you want to sell the bond, the maximum price that you can get for it is
A. $7,500. B. $12,500. C. $9,750. D. $8,000.
What is meant by the demographic transition? What are the differences in the demographic transition between the current developed economies and developing countries?
What will be an ideal response?
If the wage rate drops, an employer will be willing to hire more workers, ceteris paribus.
Answer the following statement true (T) or false (F)