If a nation is initially on its production possibilities curve, then it can increase its production of one good only by:
A. Decreasing the production of the other good
B. Increasing the production of the other good
C. Holding constant the production of the other good
D. Decreasing the price of the other good
Answer: A
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The "East Asian Miracle" of the "Four Tigers" in the 1960s was replicated by
A) developing countries around the world. B) other East Asian countries. C) Sub Sahara African countries. D) Industrialized countries. E) Eastern European countries.
nominal income
What will be an ideal response?
In long?run equilibrium for a monopolistically competitive industry, ________ firms earn ________ economic profits.
A. no; zero B. some; negative C. no; positive or negative D. some; positive
When deciding what to use as money, one characteristic to look for is its:
A. exchange value. B. convenience. C. shape. D. intrinsic value.