Multiple Choice
Opportunity costs exist for
A) households but not businesses or governments.
B) businesses but not households or governments.
C) businesses and households but not governments.
D) households, businesses, and governments.
Correct Answer:
Verified
Correct Answer:
Verified
Q89: Although finished goods are scarce, the inputs
Q90: How do economists define efficiency? Elaborate.
Q91: The major coordination tasks can be summarized
Q92: In a centrally planned economy, resources are
Q93: Economists define efficiency as<br>A)output maximization.<br>B)the absence of
Q95: If Japan and the United States engage
Q96: Figure 3-2 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8592/.jpg" alt="Figure 3-2
Q97: Figure 3-2 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8592/.jpg" alt="Figure 3-2
Q98: The problem of scarcity<br>A)has been "cooked up"
Q99: A principle that economists emphasize is that