What does the production possibility curve imply about the resource allocation?
a. Only some points on the curve are efficient.
b. All points on the curve are equally efficient.
c. A point which lies below the curve is more efficient.
d. A point which lies above the curve is readily achievable.
b
Economics
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The European Central Bank:
A) emphasizes maintaining interest rates below 5%. B) lays more emphasis on controlling employment than on controlling inflation. C) emphasizes maintaining unemployment rates below 5%. D) lays more emphasis on controlling inflation than on controlling employment.
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Entrepreneurship functions better when
A) the government performs the entrepreneurial function. B) there is a well-defined property rights system. C) saving is relatively low. D) most of the population has low levels of education.
Economics