An assumption of the production possibilities frontier model is that technology is fixed
a. True
b. False
Indicate whether the statement is true or false
True
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Between 1981 and 2013, the overall mortality rate in the United States
A) remained fairly constant. B) decreased by more than 25 percent. C) slowly but steadily increased. D) was similar to the average rate in most low-income countries.
Mr. Peabody chooses to invest in companies that produce goods and services at the lowest possible cost. Mr. Peabody is investing in companies that are
A) guaranteed to make a profit. B) productively efficient. C) allocatively efficient. D) all of the above
Cyclical unemployment occurs when real GDP falls below potential GDP
a. True b. False Indicate whether the statement is true or false
Refer to the accompanying figure. For Chris, the opportunity cost of removing one bag of trash is planting:
A. 3 bulbs. B. 1/3 of a bulb. C. 1/25 of a bulb. D. 25 bulbs.