The law of increasing costs states that the opportunity cost of producing a good increases as more of the good is produced
Indicate whether the statement is true or false
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In 2013, the reference base period for the CPI for the nation of Webot, a typical consumer spent $30 on potatoes and $150 on steak
If the price of steak is $15 and the price of potatoes is $1 then there are ________ units of steak and ________ units of potatoes in the CPI market basket. A) 10; 30 B) 150; 30 C) 5; 30 D) 30; 150 E) None of the above answers is correct.
How does the owner of a corporation relate to the business?
A) The owners of the business have no separate legal distinction from the business. B) The owners of the business have a separate legal distinction from the business. C) The personal assets are part of the corporation's assets. D) None of these describe the legal relationship of corporate owners to the business.
Naomi Burko, who is a dairy farmer in Tigerton, Wisconsin, became unemployed because fewer and fewer people, concerned about their health, consumed butter. Naomi can best be described as
a. frictionally unemployed b. structurally unemployed c. cyclically unemployed d. not part of the labor force e. a discouraged worker
Automatic stabilizers have the effect of
A. increasing aggregate demand during a recessionary gap. B. increasing long-run aggregate supply during a recessionary gap. C. increasing aggregate demand during an inflationary gap. D. increasing long-run aggregate supply during an inflationary gap.