In this economic growth and production possibilities curve, what does point F represent compared to point B?
a. more housing units but the same number of food units
b. more housing units and more food units
c. more food units but the same number of housing units
d. the elimination of scarcity in housing and food
c. more food units but the same number of housing units
Economics
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Refer to the scenario above. Which of the following is likely to happen if the service center has a reputation of trustworthiness?
A) You will trust the mechanic and he will cooperate. B) You will trust the mechanic but he will defect. C) Neither of you will gain from trade. D) Only the mechanic will gain.
Economics
Which of the following is an example of a good with an inelastic supply?
a) beanbags b) toothbrushes c) apples d) hats
Economics