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Author Question: Assume that, given factors of production and existing knowledge and technology, it is not possible ... (Read 125 times)

bclement10

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on: Jun 30, 2018
Assume that, given factors of production and existing knowledge and technology, it is not possible to produce more of one good without foregoing the opportunity to produce some of another good. Economists would characterize this situation as:
 a. inefficient.
 b. efficient.
 c. due to unemployment.
 d. a point outside the production possibilities frontier.

Question 2

The long-run level of RGDP changes whenever the aggregate demand curve shifts.
 a. True
  b. False
  Indicate whether the statement is true or false


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Jane

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Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

False


bclement10

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Reply 2 on: Jun 30, 2018
Excellent

amynguyen1221

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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