exam 1 questions

exam 1 questions - E. if society becomes more productive in...

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Question 1 of 19 Being on the production-possibility frontier between guns and butter means that: A. it is impossible to produce any more guns.  B. it is impossible to produce any more butter.  C. more guns can be produced only by doing without some butter.  D. population is in equilibrium. 
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Unformatted text preview: E. if society becomes more productive in producing butter, then we can have more butter but not more guns. Answer Key: C Question 2 of 19 "cool heads in the service of warm hearts" means that: A. allocating scarce resources may require painful decisions....
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This note was uploaded on 05/05/2011 for the course ECON 103 taught by Professor Lin during the Spring '08 term at Rutgers.

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exam 1 questions - E. if society becomes more productive in...

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