Points on the production possibilities frontier have the property that they
A) show the maximum amount of goods that can be consumed in a competitive equilibrium.
B) show the maximum amount of goods that can be consumed for given amounts of government spending.
C) are inherently unattainable.
D) show the maximum amount of leisure that can be consumed for given amounts of hours worked.
E) show the maximum amount of leisure that can be consumed for given amounts of goods consumed.
Correct Answer:
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Q3: In the model with Keynesian sticky wages
Q4: An economy that has no interaction with
Q5: A competitive equilibrium has the following
Q6: Making use of an economic model is
Q7: A Pareto optimum requires
A)
Q9: An externality is any activity for which
Q10: A Pareto optimum is a point that
A)a
Q11: Intertemporal substitution of labour suggests that
A)in the
Q12: The real wage is determined by
A)-(slope of
Q13: A competitive equilibrium is Pareto-optimal if there
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