In the four-quadrant diagram of the specific factors model, the graph in the lower right quadrant is a country's
A) production function for cloth.
B) production possibility frontier.
C) labor allocation constraint.
D) production function for food.
E) labor supply curve.
A
Economics
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Alvin's utility function is U = W. Barry's utility function is U = W2. Carl's utility function is U = W0.5. Each has wealth of only $100. An investment of that $100 has a 10% chance of netting $1,000 and a 90% chance of netting a loss of that $100. Who among the three will make the investment?
What will be an ideal response?
Economics
If the GDP chain price index in a given year is greater than 100, real GDP in that year would be greater than nominal GDP
a. True b. False Indicate whether the statement is true or false
Economics