The production possibilities frontier for a country is usually drawn
a. as a straight line, sloping downward.
b. as a straight line, sloping upward.
c. bowed outward from the origin.
d. bowed inward toward the origin.
e. as a dotted line when sloping downward and as a full line when sloping upward.
c
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The U.S. financial system is a(n) __________ system
A) markets-oriented B) angel financing C) banking-oriented D) loan committee
Fear of floating is:
A) when the benefits of floating exchange rates outweigh the costs. B) when the attractions of fixed exchange rates are large relative to those of floating. C) when countries adopt the gold standard. D) when countries say they are floating, but fix their exchange rates in practice.
Two members of the Kenyan parliament from coffee-growing areas said that no firm should have a monopoly to market Kenyan coffee. The retail coffee company Tetu Coffee has sparked a storm in the industry by promising to earn the country Sh400 (Kenyan Shilling) billion annually if given exclusive licenses to market Kenyan coffee. The members of parliament said the coffee bean farmers should be free to sell their beans to the highest bidder.If all coffee growers had to sell their produce to Tetu Coffee, this would be a(n):
A. price-discriminating monopoly. B. oligopoly. C. monopsony. D. natural monopoly.
Exhibit 4-3 Supply and demand curves
In Exhibit 4-3, an increase in demand would cause a movement from which equilibrium point to another, other things being equal?
A. E1 to E2. B. E1 to E3. C. E4 to E1. D. E1 to E4.