As a country moves up along its "bowed-out" production-possibility curve, the opportunity cost of producing more of the good measured on the y-axis decreases.
Answer the following statement true (T) or false (F)
False
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The notion of opportunity cost allows the measurement of tradeoffs
Indicate whether the statement is true or false
Capital gains are the profit earned from the sale of
A) stocks. B) real estate. C) bonds. D) all of the above.
What was the crucial factor permitting cotton textile production to take off in New England between 1790 and 1815?
(a) The imposition of high tariff rates (b) A lowering of import tariffs by Britain (c) The blocking of trade with England through the Embargo and the War of 1812 (d) A relaxation of regulations restricting exports of machinery by Britain
If goods X and Y are complements, then the cross price elasticity of demand will be
A) elastic. B) greater than zero but less than 1. C) negative. D) positive.