Given the production possibilities schedule in Table 0201A, a combination of 23 televisions and 6 personal computers
A) is attainable but involves the unemployment of some of societies resources.
B) clearly illustrates the trade—off between televisions and computers.
C) cannot be produced by society, given its current level of resources and production technology.
D) can be produced only if society is willing to have some of its resources used inefficiently.
C) cannot be produced by society, given its current level of resources and production technology.
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Refer to the table above. Laborland's net payment to foreigners equals ________
A) -$23 billion B) $20 billion C) -$61 billion D) $23 billion
The television network newscaster reports that the national inflation rate in the past year was equal to 4 percent. This report is most likely prepared from work done by a(n)
a. microeconomist b. normative economist c. macroeconomist d. econometrician e. social scientist rather than an economist
A good is considered to be a public good if it
a. is a good produced by the government sector. b. is both nonrival-in-consumption and nonexcludable. c. benefits only a small group of consumers but is very costly to produce. d. is a good whose production is financed by tax revenue.
The price of peanut butter rises due to a blight on the peanut crop; peanut butter and jelly are complements. What happens to the equilibrium quantity and price of jelly?
A. Equilibrium price rises, equilibrium quantity falls. B. Equilibrium price rises, equilibrium quantity rises. C. Equilibrium price falls, equilibrium quantity increases. D. Equilibrium price falls, equilibrium quantity falls.