Given a production possibilities curve for defense goods and non-defense goods, which of the following is not true?
a. A production point outside the curve may be attained if new resources are discovered.
b. A production point outside the curve may be attained by acquiring a new technology.
c. A production point outside the curve may be attained by shifting resources to defense goods.
d. A production point outside the curve may be attained by acquiring both a new technology and greater resources.
e. A production point outside the curve cannot be attained with the current level of resources and technology.
c
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Historical evidence seems to indicate that
A) budget and trade deficits generally move in the same direction. B) budget and trade deficits generally move in the opposite direction. C) trade and budget deficits decrease when the president is a Republican, and increase when the president is a Democrat. D) there is no consistent relationship between trade and budget deficits.
In the above figure, the firm will shut down if price falls below
A) F. B) I. C) H. D) E.