Suppose the country of Popcorn produces only jets and corn. If Popcorn cannot produce any more jets without giving up corn, we say that Popcorn has achieved
A) the highest marginal benefit.
B) production efficiency.
C) the lowest marginal cost.
D) the highest opportunity cost.
B
Economics
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Trade benefits a country by
A) increasing available consumption choices. B) reducing the need for specialization in production. C) reducing the relative price of the exported good. D) increasing the real income of all resource owners. E) increasing the wage rate.
Economics
The smaller the MPC: a. the smaller the fraction of an increase in AD due to an increase in government purchases that is consumption. b. the greater the fraction of an increase in AD due to an increase in government purchases that is consumption. c. the greater the change in government purchases required to achieve a given change in AD
d. (a) and (c)
Economics