If the resources within a nation are not being fully or efficiently utilized, it means:
a. that the nation is operating at a point inside its production possibilities curve.
b. that the nation is operating at a point outside its production possibilities curve.
c. that the nation is operating at a point along its production possibilities curve.
d. that the nation is probably technologically advanced.
e. the government of that nation should seize ownership of the resources in order to attain the necessary efficiencies.
a
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The circular flow diagram implies that if accounting is done correctly, ________
A) the flow of income must exceed the implied value of the factors of production B) the implied value of the factors of production must exceed the flow of income C) the flow of expenditure must equal the income of the households making those expenditures D) the flow of expenditure must exceed the income of the households making those expenditures
In the figure above, a factor that could cause the supply of bonds to shift to the right is
A) a decrease in government budget deficits. B) a decrease in expected inflation. C) a recession. D) a business cycle expansion.