Title: Why is a point below the production possibilities curve less efficient than a point on that curve? ... Post by: bigt246823 on Feb 26, 2018 Why is a point below the production possibilities curve less efficient than a point on that curve?
What will be an ideal response? Ques. 2 Of the following nations, the country with the highest saving rate is A) the United States. B) Japan. C) Mexico. D) Ethiopia. Ques. 3 If the price of a product increases, we would expect A) the level of demand to decrease. B) quantity supplied to increase. C) the level of supply to increase. D) an increase in quantity demanded. Ques. 4 The problem of dead capital can be eliminated by A) changing the structure of import tariffs. B) increasing the labor force participation rate. C) making it easier for people to establish legal ownership of productive capital. D) restricting population growth. Ques. 5 Legislated federal government payments that anyone who qualifies can receive are called A) controllable expenditures. B) a fiscal stabilizer. C) balanced expenditures. D) entitlements. Ques. 6 A monopolistic competitor behaving in a profit-maximizing way will A) not advertise. B) advertise as much as it can in order to increase its sales. C) advertise to the point where the additional sales from advertising equal the additional marginal costs of the product. D) advertise to the point where the additional revenue from one more dollar of advertising just equals the extra dollar cost of advertising. Ques. 7 In the spring, I enjoy the fragrance coming from my neighbors' flowers. The fragrance is is an example of A) a negative externality. B) a private good. C) the need for antitrust legislation. D) a free rider problem. Ques. 8 Explain what is meant by economic efficiency. Does efficiency imply that the fastest production processes or the most powerful equipment must always be used? Explain. What will be an ideal response? Title: Why is a point below the production possibilities curve less efficient than a point on that curve? ... Post by: Khushhal Farooq on Feb 26, 2018 Content hidden
Title: Why is a point below the production possibilities curve less efficient than a point on that curve? ... Post by: bigt246823 on Feb 26, 2018 Easily the best answer, TY and have a wonderful day
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