When a production possibilities frontier is bowed outward, the opportunity cost of one good in terms of the other is constant
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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Generally, positive externalities result in
A. too much of a good being produced. B. the socially optimal output of a good being produced. C. too little of a good being produced. D. either a or c E. any of the above
Economics
An example of an equity asset is:
A. a stock. B. a dividend. C. an intermediary. D. a cash deposit.
Economics
If two goods are substitutes, a decrease in the price of one will result in an increase in demand for the other.
a. true b. false
Economics
Suppose the demand for books goes down when the price of video games goes down. We can say that these two goods are
A. substitutes. B. complements. C. unrelated goods. D. perfect substitutes.
Economics