Refer to the accompanying figure. Which of the following is true?
A. Point A is efficient because it is farthest from the origin.
B. Point F is the most efficient because medical care is the highest there.
C. Points B, C, E and F are efficient.
D. Point D is efficient because it requires using the fewest resources.
Answer: C
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If person A sells a 2003 Treasury bond futures contract to person B, in market terminology,
A) A is long and B is short. B) A is short and B is long. C) A is short and B is the broker. D) A is long and B is the dealer.
Which of the following is the least accurate statement?
a. GNP grew very slowly during the colonial period. b. The South's economic performance was very poor after the Civil War. c. Wealth in the colonial US was very equal because there had not been enough time for people to acquire significantly different levels of wealth. d. Wage inequality has increased since 1970.