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
You might also like to view...
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.
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.
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
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.