As an economy grows over a period of years, the production possibilities frontier tends to shift outward and society is able to afford more of all goods

A U.S. company is attempting to cut costs by shifting some of its services to Thailand. This process of shifting production of products or services overseas to cut costs often results in

A) lower production quantities of those products or services. B) lower consumer prices on those products or services. C) greater potential for market failure for those products and services. D) greater economic uncertainty in the market for those products and services.

It is difficult for a private market to provide the economically efficient quantity of a public good because

A) by law governments cannot use cost-benefit analysis to determine this quantity. B) it is too expensive to produce the necessary amount of the good. C) individual preferences are not revealed in the market for the good. D) public goods produce positive and negative externalities.