A straight line production possibilities curve takes this shape because
A) the opportunity cost of producing a good is constant.
B) the opportunity cost of producing more of a good is decreasing.
C) resources are better suit
D) resources are fixed.
D) resources are fixed.
You might also like to view...
The official unemployment rate may understate the true rate of unemployment because of
A) discouraged workers who no longer are actively seeking work and are excluded from the statistics. B) increases in worker productivity. C) workers who hold two jobs. D) changes in wage rates.
The monopoly producer
A. sets MU equal to P. B. sets MR = MC. C. has MC > MU. D. sets MR = P.
The Bureau of Labor Statistics places people in the "employed" category if they
a. are without a job, but are available for work and have tried to find a job during the previous four weeks. b. work without pay in a family member's business. c. are waiting to be recalled to a job from which they had been laid off. d. All of the above are correct.
Figure 17-10 Refer to . A result of the tariff is that, relative to the free-trade situation, the quantity of saddles imported decreases by
a. Q2 - Q1.
b. Q3 - Q2.
c. Q4 - Q3.
d. Q4 - Q3 + Q2 - Q1.