If the opportunity cost of producing extra units of one good (expressed in terms of the amount of another good given up) remains constant, then the shape of the production possibilities frontier is
A. a vertical line.
B. an upward-sloping line.
C. a straight horizontal line.
D. a straight downward-sloping line.
Answer: D
Economics
You might also like to view...
"A single-price monopoly will always charge a price that is on the elastic range of the demand for the monopoly's output." Explain why the previous statement is correct or incorrect
What will be an ideal response?
Economics
How can tariffs lead to a situation in which all parties to a trade lose?
What will be an ideal response?
Economics
The real balance effect helps to explain "a change in
A) aggregate demand." B) the quantity demanded of Real GDP." C) aggregate supply." D) the quantity supplied of Real GDP."
Economics
When wage rates rise the short-run aggregate supply curve shifts to the right
Indicate whether the statement is true or false
Economics