Points lying below a production possibilities curve are:
A) inefficient because more can be produced with the available resources.
B) inefficient because they represent the production of only one good.
C) efficient because combinations represented by those points are attainable.
D) efficient because production is maximum on those points with the available resources.
A
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The two main sources of U.S. population increase between Independence and the Civil War were natural increases in population and immigration
Indicate whether the statement is true or false
The effect time lag of fiscal policy refers to
A) the time needed for Congress to enact a policy. B) the delay in recognizing an economic problem. C) the time between the onset of a policy and when the policy has impact on the economy. D) the difficulty in getting the President and the Congress to agree on an appropriate policy.