Refer to Table 2-1. Dina faces ________ opportunity costs in the production of sliders and hot wings
A) decreasing B) increasing C) constant D) negative
C
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Which of the following is true about a nation’s production possibilities curve?
a. a point inside the curve is a combination of products that is currently impossible to produce. b. a point outside the curve is a combination of products that is below capacity. c. a rightward shift of the curve illustrates economic growth. d. full employment is illustrated by a point inside the curve.
Explain what an asset bubble is, when an asset bubble would form, and why the bubble will eventually burst
What will be an ideal response?
Before the financial crisis of 2007, inflation was on the rise. According to the MP curve, this would lead to ________
A) an increase in the real interest rate B) an upward shift of the MP curve, if policymakers opted for autonomous tightening C) a decrease in aggregate output D) all of the above E) none of the above
The poverty rate for Hispanics is ______ than the rate for non-Hispanic whites and ______ than the rate for blacks.
A. higher; slightly higher B. lower; slightly lower C. higher; slightly lower D. lower; slightly higher