What is TRUE about every point along a utilities possibilities frontier?
A) Markets are perfectly competitive.
B) It is possible to move to from one point on the frontier to another point and make everyone better off.
C) All allocations are efficient.
D) It includes some unattainable points.
C
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What is the "most favored nation) principle of the wto?
a) it means that trading partners may choose a favorite nation to trade with b) it means that any nation can refuse to trade with another that is not its most favored nation c) it means that the WTO has the right to choose the nation that has performed best within the WTO guidelines as its most favored nation d) it means that every nation must grant the same rights and treatment to other nations in the WTO as its most favored nation
Which of the following is likely to happen if consumption in an economy falls?
A) Asset prices rise. B) Mortgage defaults fall. C) Labor supply falls. D) Layoffs rise.