Which of the following is assumed when constructing a production possibilities curve?
A) a fixed amount of resources
B) the efficient use of resources
C) resources of a given quality
D) All of the above are correct.
D
Economics
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The velocity of M2 is equal to
A) M3 minus M1. B) GDP divided by M2. C) GDP multiplied by M2. D) the velocity of M1.
Economics
The price system rations goods among consumers in such a way that
a. all are treated equally. b. all needs are satisfied. c. the rich are favored. d. important needs are satisfied first.
Economics