At what quantity is Jim's Production indifferent between two technologies?
a. 5000
b. 7500
c. 10000
d. 12500
c
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The self-correcting property of the economy means that output gaps are eventually eliminated by:
A. increasing or decreasing potential output. B. government policy. C. decreasing inflation only. D. increasing or decreasing inflation.
30% of the electric bulbs produced in a factory in Xenonia during a year were found to be defective and could not be sold. Which of the following is likely to happen in this case?
A) Xenonia's GDP will increase. B) Xenonia's trade surplus will increase. C) Xenonia's GDP will remain unchanged. D) Xenonia's GDP will decrease. Jane stitched a prom dress which she could have bought for $180 from a store.
Large increases in agricultural productivity were not the primary reasons for migrating to which area of the nation during the antebellum period?
a. Illinois and Wisconsin b. Indiana and Ohio c. The far west d. Texas and Mississippi
The timeshare condominium in Florida you bought last year turned out to involve many extra costs and restrictions that were not apparent when you bought it. This is an example of
a. natural selection b. moral hazard c. hidden actions d. open-access resources e. hidden characteristics