The slope of a typical production possibilities curve is:
A) 0.
B) vertical.
C) positive.
D) negative.
Answer: D) negative.
You might also like to view...
What does the marginal propensity to consume measure and how is it related to the consumption function?
What will be an ideal response?
If the dollar appreciates against the Canadian dollar at a faster rate than the Canadian inflation rate exceeds the U.S. rate, then the U.S. dollar appears
A) depreciated. B) overvalued. C) undervalued. D) None of the above.
When the government imposes a specific tax per unit on a product, changes in consumer surplus are ________ and changes in producer surplus are ________
A) negative; positive B) positive; positive C) negative; negative D) positive; negative
If you want to deflate the current price of something to eliminate the effect of inflation,
a. divide the number by the price index. b. multiply the number by the price index. c. multiply the number by 2 and then divide by the price index. d. multiply the number by the price index and then divide by 2.