Statement I: Institutional constraints such as "blue laws" or child labor laws put restrictions on our capacity to produce and thus limit our production possibilities curve.
Statement II: We would be operating at full employment with an unemployment rate of five percent and a capacity utilization rate of 85 percent.
A) Statement I is true and statement II is false.
B) Statement II is true and statement I is false.
C) Both statements are true.
D) Both statements are false.
Correct Answer:
Verified
Q148: Q149: Which statement is true? Q150: Capital refers to Q151: The opportunity cost of owning a car Q152: Which statement is true? Q154: Each of the following statements about capital Q155: In order to raise our rate of Q156: Which statement is true? Q157: For most of 2009 the U.S.was in Q158: 
A)On the production possibilities
A)"man"-made goods used to produce
A)The U.S.standard of living
A)On the production possibilities
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