Multiple Choice
Economics only applies to
A) decision making by households.
B) decision making by governments.
C) decision making by business firms.
D) all of these kinds of decisions.
Correct Answer:
Verified
Correct Answer:
Verified
Q25: A production possibilities frontier shows the combinations
Q26: Which of the following must cope with
Q27: Opportunity cost always arises when a trade-off
Q28: Do markets solve all of society's problems?<br>A)Yes,
Q29: Economists define "efficiency" as the absence of
Q31: In order to make an optimal choice,
Q32: Resources are used to create goods and
Q33: Employment discrimination is a source of<br>A)economic inefficiency.<br>B)increased
Q34: Table 3-2 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8592/.jpg" alt="Table 3-2
Q35: Rational production decisions require an understanding of<br>A)trade-offs.<br>B)opportunity