In the four-quadrant diagram of the specific factors model, the graph in the upper right quadrant is a country's
A) production possibility frontier.
B) labor allocation constraint.
C) production function for food.
D) production function for cloth.
E) labor supply curve.
A
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A firm's expansion path
A) shows the targeted growth rate in sales over the long run. B) is the same thing as its long-run average cost curve. C) is a curve that shows a firm's cost-minimizing combination of inputs for every level of output, holding input prices constant. D) is a curve that shows expected profits at various price levels.
Screening refers to
a. private schools selecting only the students who are easiest to teach b. employers requiring a high-school diploma as a way of rejecting unqualified applicants c. governments deciding who should receive health care d. universities using standardized testing to decide who should enter e. none of the above