If a society is operating on its production possibilities frontier, and then decides to produce less health care,
a. its standard of living will fall
b. its standard of living will improve
c. some of its resources will become unemployed
d. it will be able to produce more of some other good or service
e. the opportunity cost of producing health care will rise
D
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In a prisoner's dilemma game, each person will pick
A) their best outcome given what the other person will do. B) their best outcome. C) their worse outcome. D) their best outcome after consulting with the other person.
The common feature of the Great Depression and the Global Economic Crisis is
A) that they were preceded by an asset price bubble. B) the active role of the Government before the crises. C) the active role of the FED before the crises. D) the immediate and the aggressive response by both government and the FED.