A point along a production possibilities curve shows
A. that in order to acquire more of one good, none of the alternative good must be given up.
B. that in order to acquire more of one good, some of the alternative good must be given up.
C. that any amount of goods could be produced by society if people worked harder.
D. various combinations of guns and butter that can be produced under conditions of 6 percent unemployment.
B. that in order to acquire more of one good, some of the alternative good must be given up.
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Political stability is not a prerequisite to economic growth
Indicate whether the statement is true or false
Which of the following make(s) insurance premiums higher than otherwise?
a. adverse selection and moral hazard b. adverse selection, but not moral hazard c. moral hazard, but not adverse selection d. neither adverse selection nor moral hazard
A movement along a demand curve is
A) a change in demand and can be caused by a change in consumers' income. B) a change in the quantity demanded and is caused by a change in the price of the good. C) a change in the quantity demanded and can be caused by a change in consumers' income. D) a change in demand and is caused by a change in the price of the good.
Refer to the information. The average total cost of 3 units of output is:
The Sunshine Corporation finds that its costs are $40 when it produces no output. Its total variable costs (TVC) change with output as shown in the accompanying table. Use this information to answer the following question.
A. $65.
B. $21.67.
C. $40.
D. $35.