Which of the following is not a reason for solving the model with a PPF?
A) It merges the household and firm problems into one graph.
B) It is simpler to solve the social planner problem.
C) It highlights the fact that the marginal rate of substitution should equal the marginal rate of transformation.
D) It highlights the fact that firms make no profit in equilibrium.
D
Economics
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Refer to Table 5.1. Hector has a comparative advantage in the production of
A) bracelets. B) tiaras. C) both products. D) neither product.
Economics
Unemployment that results from a mismatch between worker qualifications and the characteristics employers require is called _________ unemployment.
A. cyclical B. frictional C. search D. structural
Economics