The accompanying figure shows Becky's daily production possibilities curve for dresses and skirts.
The maximum number of skirts that Becky can make in a day is represented by point:
A. V
B. U
C. T
D. Z
Answer: A
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A natural monopoly regulated with a marginal cost pricing rule results in
A) an economic loss for the regulated firm. B) an economic profit for the regulated firm. C) a normal profit for the regulated firm. D) a deadweight loss.
When deciding what to use as money, one characteristic to look for is the:
A. stability of value. B. shape. C. intrinsic value. D. exchange value
What's the difference between firm-specific risk and market risk? Will diversification eliminate one or both? Explain
As the proportion of labor contracts that index wages to prices declines, we would expect that
A) a reduction in the unemployment rate will now have a smaller effect on inflation. B) the natural rate of unemployment will increase. C) the natural rate of unemployment will decrease. D) nominal wages will become more sensitive to changes in unemployment.