If the opportunity costs of producing a good increase as more of that good is produced, the economy's production possibility frontier will be
A. a negatively sloped straight line.
B. negatively sloped and "bowed inward" toward the origin.
C. negatively sloped and "bowed outward" from the origin.
D. a positively sloped straight line.
Answer: C
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Other things equal, the wage rate will be higher in a job that requires close monitoring by a supervisor since few individuals are eager to work in such an environment
a. True b. False
Which of the following is illegal under the Sherman Antitrust Act?
a. Attempts to monopolize. b. Price fixing. c. Formation of cartels. d. All of these are illegal under the Sherman Antitrust Act.
Globalization has most likely occurred for which of the following reasons?
a. International agreements and treaties between countries have encouraged greater trade. b. Expanding cultural connections between people around the world. c. Expanding economics connections between people around the world. d. Increased military spending.
Discuss the benefits of international trade and factors that lead to its growth.
What will be an ideal response?