All resources are assumed to be of equal quality when we draw a production possibilities curve that is bowed out
Indicate whether the statement is true or false
F
You might also like to view...
Refer to Figure 28-2. At which point are inflation expectations equal to the actual inflation rate?
A) A B) B C) C D) all of the above
The effect of an import quota on the domestic market is to shift the:
a. demand curve to the right by the amount of the quota. b. demand curve to the left by the amount of the quota. c. supply curve to the right by the amount of the quota. d. supply curve to the left by the amount of the quota. e. consumers' marginal utility curves if they prefer foreign goods to domestic goods.
Inventory investment can be:
A. zero only. B. negative, zero, or positive. C. negative only. D. positive only.
GDP is $16 trillion. If consumption is $10 trillion, investment is $2 trillion, and Government purchases are $4 trillion then
a. exports are equal to imports. b. net exports are positive. c. net exports are negative. d. there is a balance of trade deficit.