If society leaves some of its resources unemployed, then it will be operating at a point:
a. beneath its production possibilities curve.
b. at a corner of its production possibilities curve.
c. anywhere along its production possibilities curve.
d. outside of its production possibilities curve.
a
Economics
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If the interest rate is 20 percent, the present value of $10,000 to be received 20 years from today is about
A) $6,944. B) $14,400. C) $383,376. D) $261.
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A possible explanation for a natural phenomenon is called
A. the scientific method. B. a theory. C. a value judgment. D. normative economics.
Economics