Refer to the figure shown, which represents the production possibilities frontiers for Countries A and B. One of the reasons why Country A and Country B are not realistic representations of actual countries is:
A. the production possibilities curves are straight lines; realistic ones would be concave.
B. they only represent the production of two goods.
C. they only represent two countries.
D. All of these statements are true.
D. All of these statements are true.
You might also like to view...
Explain the principal-agent relationshi
What will be an ideal response?
Property and casualty insurance companies hold the largest share of their assets in
A) long-term government bonds. B) short-term government securities and commercial paper. C) tax-exempt municipal bonds and U.S. government securities. D) medium-term corporate bonds.
In the worst case scenario, the combined marginal tax rate of cash and in-kind programs combined could be equal to or greater than 100%
Indicate whether the statement is true or false
A noncooperative game would refer to a situation in which oligopoly firms
A) are too small to be interdependent. B) do not engage in collusive behavior together. C) are made worse off by their actions. D) behave as a joint monopoly.