A point inside a production possibilities curve indicates
A) resources are not being used efficiently.
B) resources are being used very efficiently.
C) opportunity costs are constant.
D) an output combination that is unobtainable with the current resource and technology levels
A
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What is a necessary condition for being categorized as unemployed?
A) Being homeless B) Actively searching for a job C) Having no source of income D) Having no hope of finding a job in the foreseeable future
Empirical evidence suggests that saving tends to rise when there is an increase in interest rates. What does this imply about the relative sizes of the income and substitution effects? Explain
What will be an ideal response?
The demand for houses decreases, all else equal, when
A) wealth increases. B) real estate prices are expected to increase. C) stock prices become more volatile. D) gold prices are expected to increase.
Putting a decision into action is called?
a. Visualization b. Implementation c. Satisficing d. Reactivity