What does a production possibilities curve show?
What will be an ideal response?
A production possibilities curve shows the combinations of maximum outputs that can be
produced with a fixed amount of resources that are fully employed, and fixed technology.
Economics
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The table above gives the demand and supply schedules for the housing market in a small town. If a rent ceiling of $600 a month is imposed, what is the quantity demanded, the quantity supplied, and the shortage of housing?
What will be an ideal response?
Economics
An autonomous expenditure is one that does not depend on:
A) government policy B) the automobile sector C) interest rates D) GDP
Economics