Which Statement Is True

question 159

Multiple Choice

Which statement is true?

• A)The U.S.standard of living is higher than that of India because we have more capital.
• B)It is easier to attain full production than full employment.
• C)We often operate outside our production possibility frontier.
• D)All of the statements are true.
• E)The U.S.standard of living is higher than that of India because we have more capital AND we often operate outside our production possibility frontier.

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Definitions:

Oligopolies

Giant corporations that control part of an economy. They are few and tend not to compete against one another. Instead, they can set prices at levels that are most profitable for them.

Dominate an Industry

To be the most influential or powerful entity within a particular market or sector, often through superior products, market share, or innovative strategies.

Multinational Corporations

Large corporations that operate and provide goods or services in multiple countries, often having significant economic, political, and cultural influence.

Low-Wage Countries

Nations with a general level of income that is much lower than the global average, often associated with high levels of poverty.