A nation's infrastructure includes all of the following except its
a. market system
b. educational system
c. energy system
d. railroad system
e. religious system
E
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At various points along the production possibilities frontier,
a. the greatest achievable output levels are illustrated b. resources are not fully employed c. more of one good can be obtained without giving up more of the other d. more efficient output levels are possible e. society is equally well off
When a firm creates negative externalities by polluting, in order to achieve the socially efficient outcome: a. the firm's production should be prohibited
b. the firm's production should be increased and the price of its output should be decreased. c. the firm's production should be increased and the price of its output should be increased. d. the firm's production should be reduced and the price of its output should be increased.