An economy's PPC illustrates the extent to which the economy consumes what it produces

a. True
b. False
Indicate whether the statement is true or false


False

Economics

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Which of the following statements is FALSE?

A) Comparative advantage is the principle upon which trade patterns are based. B) Opportunity cost measures the real cost to a country of producing a certain product. C) The gains from trade are the result of differences in opportunity cost and comparative advantage. D) A country that possesses an absolute advantage will always have a comparative advantage. E) Comparative advantage is necessary and sufficient for trade.

Economics

The economist who proposed that, "Inflation is always and everywhere a monetary phenomenon" was

A) John Maynard Keynes. B) John R. Hicks. C) Milton Friedman. D) Franco Modigliani.

Economics

Natural monopolies occur when a single or a few firms can take advantage of economies of scale and supply the entire industry output.

A. True B. False C. Uncertain

Economics

Internal markets

A) are used to determine a transfer price. B) are common in corporate America. C) are part of a firm's vertical network. D) all of these choices.

Economics