The marginal product curve rises when the marginal cost curve rises
a. True
b. False
Indicate whether the statement is true or false
False
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The table above gives the production possibilities frontier for a nation that produces wheat and soybeans
Use the information in that table to complete the table below, which has in it the opportunity costs of moving from one production point to another. Do not forget to note the units of the opportunity costs. Movement from Opportunity cost Movement from Opportunity cost A to B D to C B to C C to B C to D B to A
The definition of human capital refers to
a. worker education and workers' equipment. b. worker education and workers' physical capital. c. workers' equipment and workers' physical capital. d. worker education and worker training.
When an inflationary gap exists, the job prospects of new college graduates are
a. very dim. b. somewhat encouraging. c. worse in comparison to a recessionary gap. d. excellent.
The functions of money are to serve as a:
A. determinant of consumption, investment, and government spending. B. resource allocator, method for accounting, and means of income distribution. C. unit of account, store of value, and medium of exchange. D. factor of production, exchange, and aggregate supply.