Production possibilities frontiers curve when they are charted on a graph because they show:
a) the underutilization of resources
b) the maximum output of goods and services
c) the increasing costs resulting in increasingly less output
d) the technological level of the economy's productivity
Ans: c) the increasing costs resulting in increasingly less output
You might also like to view...
As a consumer consumes more and more of a product in a particular time period, eventually marginal utility
A) fluctuates. B) rises. C) is constant. D) declines.
The nation’s disposable income increases by $400 billion and, as a result, consumer spending increases by $320 billion. Therefore, the MPC equals
A. 0.16. B. 0.20. C. 0.60. D. 0.80. E. 0.96.
Calculate the price of a $1,000 face value bond that offers a $45 annual coupon, and has six years to maturity, when the interest rate is 6.0% (0.060).
What will be an ideal response?
What is the best explanation for the fact that the only two political candidates in an election often have very similar stands on the issues during an election?
A. They are logrolling. B. They are behaving according to the median voter rule. C. Democrats and Republicans actually agree on most issues. D. They need to please special interest groups in order to be elected.