If an economy is producing inside the production possibilities curve, then
A. It is operating efficiently.
B. There are not enough resources available to produce more output.
C. It can produce more of one good without giving up some of another good.
D. There is full employment of resources.
Answer: C
Economics
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The concept of rational expectations first appeared on the economic scene in _______, but it wasn't until the _____________ that it received more significant notice in the economics profession
A) 1931; early 1970s B) 1961; early 1970s C) 1981; early 1990s D) 1991; early 2000s E) 1921; early 1980s
Economics
Cooperation that continues as long as the players continue to cooperate is
A) a zero-sum game. B) a negative-sum game. C) tit-for-tat strategic behavior. D) opportunistic behavior.
Economics