Multiple Choice
The "rules of the game, " the set of conditions that shape individual incentives and constraints, are determined by
A) the production possibilities frontier
B) scarcity
C) technology
D) the amount of consumer goods in the economy
E) laws about resource ownership and the role of government
Correct Answer:

Verified
Correct Answer:
Verified
Q149: The law of comparative advantage says that<br>A)the
Q150: The law of comparative advantage says that
Q151: The opportunity cost of a particular activity<br>A)must
Q152: Which of the following would shift the
Q153: Comparative advantage is based on opportunity costs.
Q155: In one week, Mohammed can knit 5
Q156: Specialization often leads to gains in productivity
Q157: If you enjoy playing golf, the opportunity
Q158: Specialization of labor<br>A)increases productivity without creating any
Q159: Exhibit 2-12 Maria and Hans Production Possibilities