Refer to the above figure. We are currently producing at point c. Which of the following statements is TRUE?
A) Resources are not being efficiently utilized.
B) Resources are being efficiently utilized.
C) The only way to produce more of Goods X or Y is to have an increase in the amount of resources.
D) The Law of Increasing Additional Cost does not hold.
A
Economics
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Inflation represents
A) an increase in output. B) an increase in the aggregate price level. C) an increase in the unemployment rate. D) a recession.
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The process of negotiation between union and management to arrive at a labor contract is called
a. arbitration b. mediation c. reconciliation d. collective bargaining e. impasse
Economics