The opportunity cost of producing capital is
a. decreased current production of consumption goods
b. increased future production of consumption goods
c. the amount of roundabout production
d. abundant capital accumulation
e. the decreased amount of future capital available
A
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In the allocation of resources between present and future
a. the market works imperfectly. b. the market works perfectly. c. centrally planned economies are more efficient than market economies. d. the invisible hand guarantees efficiency in market economies.
Compared to other developed countries:
a. total health spending in the U.S. is much higher b. U.S. health care spending as a percentage of GDP is below average c. both of the above d. neither of the above
A country that typically runs a trade surplus is:
A. China. B. Canada. C. the United States. D. France.
How would economic growth and mild inflation be depicted in the extended aggregate demand and aggregate supply model?
What will be an ideal response?