An economy consists of two goods: beef and lamb. Of all the points on this economy's production possibilities frontier, which one is best in terms of efficiency?
There is no best point in terms of efficiency. All points on the PPF are efficient.
Economics
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A unit tax has an advantage over an ad valorem tax in situations when _____
a. inflation is high b. it is easy to estimate the value of the good being taxed c. it is difficult to estimate the value of the good being taxed d. inflation is low
Economics
It is possible to purchase diplomas from diploma mills. The situation in which the degrees are more important than the knowledge they are supposed to represent is called:
A. accreditation. B. credentialism. C. cretinism. D. diplomacy.
Economics