The demanders in the goods-and-services market are
A. households, the government, business firms, and the rest of the world.
B. the government and business firms.
C. households, the government, and the rest of the world.
D. households and business firms.
Answer: A
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A president of the United States promises to produce more defense goods without any decreases in the production of other goods. This promise can be valid
A) if the United States is producing at a point on its production possibilities frontier. B) if the United States is producing at a point inside its production possibilities frontier. C) if the United States is producing at a point beyond its production possibilities frontier. D) only if the production possibilities frontier shifts rightward.
What is a perfectly contestable market?
What will be an ideal response?
Is the firm a perfect competitor or an imperfect competitor?
If an economic curve has a negative slope, then one variable
A. falls as the other rises. B. changes at a slower rate than another. C. has a smaller value than another variable. D. changes after another variable.