Which of the following is a reason for the law of increasing opportunity cost?
a. Some goods have limited alternative uses
b. Not all resources are equally adaptable to other uses.
c. Prices of specific final goods increase as more of those goods are produced.
d. Prices of specific final goods decrease as more of those goods are produced.
b
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The U.S. trade deficit has been mainly caused by:
A. unfair trade restrictions imposed by other countries on imports. B. production of inferior goods in the U.S. C. cheap labor in other countries. D. a low rate of national saving.
Economic agents who borrow funds are known as:
A) receivers. B) debtors. C) investors. D) creditors.
Tennis balls and tennis rackets are complements. If a 3 percent change in the price of a tennis racket leads to a 9 change in the quantity of tennis balls demanded, the cross elasticity of demand equals
A) 3. B) -3. C) 1/3. D) -1/3. E) 9.
It is often profitable for the white-males to accept lower paying positions to avoid working with women
a. True b. False Indicate whether the statement is true or false