Refer to the accompanying figure. This economy would be operating at point B if:
A. the opportunity cost of making milk were higher than the opportunity cost of making movies.
B. the opportunity cost of making movies were higher than the opportunity cost of making milk.
C. it was operating efficiently.
D. resources that are better-suited to making movies were being used to make milk, while resources that are better-suited to making milk were being used to make movies.
Answer: D
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Which of the following are complementary resources?
a. margarine and butter used in baking b. sugar and honey used in cereals c. a teacher and a chalkboard d. rye and wheat bread used in a sandwich shop e. a typewriter and a personal computer used in an office
Which of the following is a source of inequality in incomes?
a. job preferences b. willingness to take risks c. differences in investment in human capital. d. All of the above are correct.