Points on the production possibilities frontier have the property that they
A) are inherently unattainable.
B) show the maximum amount of leisure that can be consumed for given amounts of goods consumed.
C) show the maximum amount of goods that can be consumed for given amounts of government spending.
D) show the maximum amount of leisure that can be consumed for given amounts of hours worked.
E) show the maximum amount of goods that can be consumed in a competitive equilibrium.
Correct Answer:
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Q1: The production possibilities frontier in the one-period
Q2: An example of a public good is
A)
Q3: In the production function,output is given by
A)
Q4: An economy that engages in international trade
Q5: In the one-period competitive model we have
Q7: A competitive equilibrium is a state of
Q8: In a one-period model,government is likely to
Q9: An economy that has no interaction with
Q10: In an economic model,an exogenous variable is
A)
Q11: A relationship that shows the technological possibilities
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