Which of the following would be considered an economic function of government?

Moral hazard occurs because people act

A) in the interest of others at all time. B) in the best interest of society. C) in their own self-interest. D) like anarchists.

In the above figure, the production of 75 ukuleles and 75 guitars is

A) efficient production. B) inefficient production. C) impossible production. D) full employment production.