Most Economists Agree That While There Are a Seemingly Endless

question 61

Multiple Choice

Most economists agree that while there are a seemingly endless number of ways to promote economic development:

• A) there are just as many ways to measure effectiveness.
• B) there are few ways to measure their effectiveness.
• C) there is no way to determine which ways are the best.
• D) there is no need to measure effectiveness.

Recognize the implications of opportunity costs beyond monetary terms.

Identify the principles behind economic structures, resource ownership, and coordination of economic activities.

Understand the shifts in production possibilities frontier due to changes in labor force size or technology.

Understand the characteristics of different economic systems.