Due to the recession in 2008, firms decreased their profit expectations. As a result, there was a ________ shift in the ________ loanable funds curve

Land is an example of an nonrenewable resource

Indicate whether the statement is true or false

An efficient allocation of resources exists if

a. one group of people can get more of the things they want without someone else having to give up anything. b. no one can get more of the things he wants without someone else having to give up something. c. the economy operates at any point under the production possibilities frontier. d. the economy is operating at any point above the production possibilities frontier.