The production possibilities frontier rotates outward along one of the axes when:
a. there is a technological change that enhances the production of both goods.
b. there is a decrease in the availability of resources used to produce both goods.
c. there is a decrease in the quality of resources used to produce both goods.
d. there is a technological change that enhances the production of only one of the goods.
d
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Which of the following programs provides economic security to the elderly, disabled, widows, and fatherless children in the U.S.?
A) Social security B) Income security C) Federal household assistance program D) Federal income administration program
In monopoly, the firm ______.
a. is a price taker b. will only operate on the bottom half of its demand curve c. cannot set both its price and the quantity sold; if the monopolist reduces output, the price will rise, and if the monopolist expands output, the price will fall d. all of these