If an economy is operating at a point inside the production possibilities frontier, then
a. some of the nation's resources are unemployed
b. the production decisions are made by the government
c. unlimited resources must satisfy scarce desires
d. there is a scarcity of human resources relative to human wants therefore society must have some mechanism for making choices
e. society is paying too much for wages
A
Economics
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The compulsory military service in the United States which was required from 1940 until 1973 was known as the draft
Indicate whether the statement is true or false
Economics
Refer to the figure above. If the relative price of S were to increase, then the price line would
A) shift out in a parallel fashion. B) shift in in a parallel fashion. C) become steeper. D) become flatter.
Economics