When a production possibilities frontier is bowed outward, as more of one good is produced, its opportunity cost
A) increases.
B) decreases.
C) remains constant.
D) might increase, decrease, or remain constant depending on how much people value the additional units of the good.
E) cannot be predicted.
A
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The private cost of a good or service is the cost borne by those who do not produce the good or service
Indicate whether the statement is true or false
The idea that because of scarcity, producing more of one good or service means producing less of another good or service refers to the economic concept of
A) trade-off. B) equity. C) efficiency. D) optimization.
There is __________ "institutionalization" in U.S. financial markets, meaning a greater relative use of __________ finance
A) increasing; indirect B) increasing; direct C) decreasing; indirect D) decreasing; direct
Which of the following will most likely occur in the short run if long-run equilibrium is disturbed by an unanticipated decrease in aggregate demand?
What will be an ideal response?