On a production possibilities curve diagram, greater entrepreneurship:
a. causes the curve to shift outward.
b. keeps the economy on the curve.
c. prevents movement along the curve.
d. keeps the economy at the corners of the curve.
a
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Using Scenario 1 calculate the total cost of pollution when both steel companies are allowed to pollute only one million gallons of thermal water each but the rights to pollute are genuine property rights sanctioned and protected by the government
and therefore tradable.
Average revenue (AR) is equal to
a. total revenue/output. b. total revenue minus total cost. c. price per unit. d. both total revenue/output and price per unit.
Borrowing from abroad represents:
A) a capital outflow. B) a capital inflow. C) positive net savings. D) none of the above.
Within a game theory model, if a change in decision-making raises corporation A's profits by $50 and lowers corporation B's profits by $60, the game is a
A) negative-sum game. B) zero-sum game. C) positive-sum game. D) cooperative game.