A combination of two goods which lies beyond the production possibilities curve indicates:
a. underutilization of resources
b. overutilization of resources.
c. constant opportunity costs.
d. a combination that cannot be produced with existing resources.
e. society's most preferred combination of two goods.
d
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According to the assumption of consumer rationality, a consumer who prefers one head of broccoli to one head of cauliflower, one head of cauliflower to one package of brussel sprouts, and one
a. package of brussel sprouts to one head of cabbage, must prefer a head of cabbage to a head of cauliflower b. package of brussel sprouts to one head of cabbage, must prefer a head of broccoli to any other vegetable c. package of brussel sprouts to one head of cabbage, must prefer a package of brussel sprouts to a head of cauliflower d. package of brussel sprouts to one head of cabbage, must prefer a head of cauliflower to a head of cabbage e. head of cabbage to one package of brussel sprouts, must prefer the package of brussel sprouts to a head of broccoli
Supply-side policies can be described in terms of the aggregate demand and aggregate supply model as an attempt to shift:
A. The aggregate demand curve to the right B. The aggregate supply curve to the right C. Both the aggregate supply curve and the aggregate demand curve to the right D. The aggregate supply curve to the right and the aggregate demand curve to the left