A production possibilities curve always slopes downward to the right because resources
a. are not scarce.
b. have no opportunity cost.
c. are freely available.
d. are limited.
e. are not related to outputs.
d
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In the long run, total variable cost is zero
Indicate whether the statement is true or false
Which of the following could contribute to cost-push inflation?
a. Greater demand for exports b. Lower income taxes c. An increase in consumption demand d. Higher government spending e. Higher wage demands by trade unions
Which of the following is a measure of political globalization (one of the three categories used by the KOF Swiss Economic Institute)?
a. Participation in U.N. peace missions b. Spread of ideas c. Flow of information d. Limits on externalities e. Progressive taxation
In 2014 income per person in the United States was about 10 times that in India
a. True b. False Indicate whether the statement is true or false