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Can someone help me in finding out the right answer from the given options. The production possibilities frontier enlarges if: (i) The economy approaches full and proficient employment. (ii) Technolog
A positive economic statement is one which: (w) involves scientifically testable predictions. (x) is based upon value judgments. (y) explains the world idealistically. (z) applies primarily to microec
The Society's production possibilities frontier would not be shifted by modifications in: (1) The production technology. (2) Quality of the resources available. (3) Amounts of resources accessible. (4
The Standard economic suppositions recommend that the production possibilities frontiers are concave from beneath [from origin] mainly because: (i) People desire additional units of a good less the mo
An illustration of a positive scientific statement would be: (w) vegetarians are healthier than people who gorge on candy and fried chicken. (x) people shouldn't be greedy. (y) justice needs ratificat
Positive economic analysis would take in testing a theory which raising cigarette taxes would: (1) harm smokers much more than it helped non-smokers. (2) enhance social welfare by reducing smoking fro
Whenever the law of diminishing returns applies to the production processes, then the associated production possibilities frontier should: (1) Produce reducing costs as output grows. (2) Bow in (that
The Production possibilities frontiers (or PPFs) tend to be ‘bowed out’ since: (i) More of one good mandates the lower production of other. (ii) A few resources are inevitably underutilize
Positive economic statements: (1) are factual and can never be wrong. (2) predict political viewpoints. (3) are attempts to explain economic relationships. (4) estimate the fairness of social programs
The observations that whenever output is expanded, the costs ultimately grow faster than output, and that the enjoyment people receive from consuming additional units of a specific good ultimately dec
Income tax rates were cut during 1981 year, and again in 2001 year. A question is here that, at least in theory, may be resolved through positive economic analysis is: (w) How do changes in tax rates
The inevitability of ultimately raising opportunity costs might be employed to explain why: (1) Scarcity is the worsening problem in industrial societies. (2) Production possibilities frontiers are co
I have a problem in economics on Opportunity costs in producing units. Please help me in the following question. Since output is raised in a fully employed economy, the opportunity costs incurred to g
Illustrations of scientifically positive statements would comprise the assertion that: (i) executing jaywalkers and atheists will enhance the morality of average Americans. (ii) racial prejudice and v
The points on a production possibilities curve communicate to combinations of goods which: (1) Can’t be generated with no technological advances. (2) Utilize all resources fully and efficiently
Technological advances in the food production would make it probable to generate: (1) 40 units of food and a few clothing. (2) More than 40 units of food. (3) 70 units of clothing and greater than 20
Since clothing output expands from 0 to 100, then the opportunity cost per unit of extra clothing: (i) Increases. (ii) is zero. (iii) Drops. (iv) Is constant. Can someone please help me in finding ou
When a mother tells her young child that thunder is caused by the angels bowling up in heaven, scientists would classify her statement as most clearly: (w) a normative statement. (x) a positive statem
Can someone help me in finding out the right answer from the given options. Since the output of food raises from zero to 40 in this completely employed economy, the opportunity cost of additional food
I have a problem in economics on current production possibilities frontier. Please help me in the following question. The combination of 70 units of clothing and 30 units of food are: (1) Completely e
Elmer leaves his old mule Betsy and buys a new tractor to plow his fields. It is assumed to be consistent along with Elmer's perception of his best interest since: (w) tractors can plow more than a mu
Raising the output of goods for military utilization: (i) Is not possible in a completely employed economy. (ii) Always needs reducing the output of the civilian goods. (iii) Decreases the outputs of
I have a problem in economics on Symptom of inefficiency. Please help me in the following question. Operating within a society's production possibilities frontier is the: (1) Method to build reserves
In the nonattendance of diminishing returns, the maximum output of food from the flower pot (or land) and limitless amounts of other resources would be sufficient to feed: (1) The grasshopper. (2) One
As per to the economic assumption of rationality: (w) entrepreneurs are usually more rational than employees. (x) consumers often perform in random or erratic ways. (y) people tend to behave in accord