The above figure is referred to as a(n)
A) trade-off curve.
B) opportunity curve.
C) production possibilities curve.
D) scarcity-shortage curve.
C
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If Safeway reduced its grocery prices below cost in a particular metropolitan area and kept them there until all other grocery stores in the area had been forced into bankruptcy, Walmart would almost certainly sustain huge net losses
A) in the short run and the long run because grocery stores would reappear quickly when Walmart subsequently set high prices. B) in the short run but not in the long run because it could charge very high prices afterward. C) in the short run but not in the long run because the policy would lower Walmart's costs of buying from suppliers. D) only if the government enforced the antitrust laws in a fair and even-handed way.
If Xavier gives up a job in which he earns $23,000 per year in order to go to college full time, his foregone income is part of the opportunity cost of going to college
a. True b. False Indicate whether the statement is true or false
Stock prices will increase, ceteris paribus, when the prevailing interest rate increases.
Answer the following statement true (T) or false (F)
One problem with the unemployment rate is that:
A. discouraged workers are included in the calculation. B. the data includes part-time workers as fully employed. C. underemployment is measured in the calculation. D. teen workers are excluded from the statistics.