When producing at a production efficient point, ________
A) our choice of the goods can be either on or within the production possibilities frontier
B) we can satisfy our all wants
C) the opportunity cost of another good is zero
D) we face a tradeoff and incur an opportunity cost
D
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Angela, Bonnie, and Carl are visiting the local paint store. Angela, owner of Angela's Artful Painting Co, is posting a Help Wanted sign because she is looking for more painters to join her crew. Bonnie, who is a sole proprietor, is placing an order for 12 gallons of green paint. Carl is a painter who is looking for a job and is reading the bulletin board in the paint shop. Who is operating in
the long run? a. Angela only b. Bonnie only c. Carl only d. Carl and Angela e. no one is operating in the long run
Assume that the reserve requirement is 25%. If the Federal Reserve sells $120 million in government securities to the general public, the money supply will immediately ________.
A. increase by $120 million with this transaction, and the increase in money supply could eventually reach a maximum of $480 million B. increase by $120 million with this transaction, and the increase in money supply could eventually reach a maximum of $360 million C. decrease by $120 million with this transaction, and the decrease in money supply could eventually reach a maximum of $480 million D. decrease by $120 million with this transaction, and the decrease in money supply could eventually reach a maximum of $360 million