The _______ model lays out the _______ available to the economy.
A) demand and supply; alternatives
B) production possibilities; price alternatives
C) production possibilities; alternatives
D) demand and supply; prices
Ans: C) production possibilities; alternatives
You might also like to view...
Gross domestic product is calculated by summing up
A) the total market value of goods and services in the economy. B) the total quantity of goods and services produced in the economy during a period of time. C) the total quantity of goods and services in the economy. D) the total market value of final goods and services produced in the economy during a period of time.
In a Nash equilibrium,
A) each player has a dominant strategy. B) no players have a dominant strategy. C) at least one player has a dominant strategy. D) players may or may not have dominant strategies. E) the player with the dominant strategy will win.