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If the country whose production possibilities curve is on the curve at the bottom and wishes to move to a position further up on the curve, it will:
a. Find this impossible to achieve given the resources it currently possesses.
b. Have to employ all currently unemployed resources to accomplish this
c. Incur an opportunity cost of having to give up some butter in order to make additional amount of guns desired
d. Be able to make the desired switch only if there is a significant improvement in the technological base available to the nation
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If the market for alcoholic beverages is in equilibrium, then the drinking age is reduced from 21 to 18 what will happen to the equilibrium price and quantity of alcoholic beverages.
did monetary policy contribute to the economic crisis of 2008? why or why not? how did monetary policy makers respond
Markets are mechanisms for coordinating the set of connections of production operations
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What distinguishes Buddhist economics from modern economics in its approach to material wealth? To natural resources? With which approach are you more sympathetic and why?
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