This topic contains a solution. Click here to go to the answer

Author Question: Which of the following conditions is true for a nation operating at a point lying inside its ... (Read 349 times)

09madisonrousseau09

  • Hero Member
  • *****
  • Posts: 559
Which of the following conditions is true for a nation operating at a point lying inside its production possibilities curve?
 a. The nation is experiencing a technological breakthrough in one of its key industries.
  b. The nation is clearly utilizing its resources efficiently.
  c. The nation is producing the maximum output that can be produced with a limited quantity of resources.
  d. The nation is not utilizing its resources efficiently.
  e. The nation is producing the maximum output that can be produced with its unlimited quantity of resources.

Question 2

Which of the following would be likely to raise your opportunity cost of attending a big basketball game this Sunday night?
 a. A friend calls you up and offers you free tickets to a concert by one of your favorite bands on Sunday night.
  b. Your employer offered you double your usual wage to work this Sunday night.
 c. Late Friday afternoon, your physics professor makes a surprise announcement that there will be a major exam on Monday morning.
  d. All of the above would likely raise the opportunity cost of attending the game.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ebe

  • Sr. Member
  • ****
  • Posts: 320
Answer to Question 1

d

Answer to Question 2

d




ebe

  • Sr. Member
  • ****
  • Posts: 320

 

Did you know?

The most common childhood diseases include croup, chickenpox, ear infections, flu, pneumonia, ringworm, respiratory syncytial virus, scabies, head lice, and asthma.

Did you know?

Alcohol acts as a diuretic. Eight ounces of water is needed to metabolize just 1 ounce of alcohol.

Did you know?

The toxic levels for lithium carbonate are close to the therapeutic levels. Signs of toxicity include fine hand tremor, polyuria, mild thirst, nausea, general discomfort, diarrhea, vomiting, drowsiness, muscular weakness, lack of coordination, ataxia, giddiness, tinnitus, and blurred vision.

Did you know?

Famous people who died from poisoning or drug overdose include, Adolf Hitler, Socrates, Juan Ponce de Leon, Marilyn Monroe, Judy Garland, and John Belushi.

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

For a complete list of videos, visit our video library