If workers become more productive as a result of a new technology, the demand for these workers will decrease because the firm will not need to hire as many

If an economy is operating at a point inside the production possibilities frontier, then

a. some of the nation's resources are unemployed b. the production decisions are made by the government c. unlimited resources must satisfy scarce desires d. there is a scarcity of human resources relative to human wants therefore society must have some mechanism for making choices e. society is paying too much for wages

Economic decision making recognizes that

A) all choices have benefits and costs. B) benefits are largely free while costs are not. C) costs are controllable but benefits are not measurable. D) prices do not reflect all information known to managers. E) resources and wants are limited.