A country operates inside its production possibilities curve; this may be caused by
A. a lack of modern products being produced.
B. total efficiency in industry.
C. a new resource being discovered.
D. unemployed resources.
Answer: D
Economics
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Total net benefits are maximized when marginal net benefits are
a. Maximized b. Minimized c. Zero d. Equal to the discount rate e. Equal to price
Economics
Scarcity can best be defined as a situation in which
A) there are no buyers willing to purchase what sellers have produced. B) there are not enough goods to satisfy all of the buyers' demand. C) there is more than enough money to satisfy consumers' wants. D) the resources we use to produce goods and services are limited.
Economics