A production possibilities frontier will be bowed out if
a. there is scarcity
b. resources are used efficiently
c. production of one good involves an opportunity cost
d. resources are not perfectly adaptable to making each good
e. technology is improving
D
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Name two actions that a government could take if it wants to implement an expansionary fiscal policy
What will be an ideal response?
________ functions are very useful in analyzing production functions, which exhibit both increasing and decreasing marginal products
A) Cobb-Douglas B) Straight-line C) Quadratic D) Cubic
In the circular flow, investment refers to spending on
a. government bonds. b. certificates of deposit. c. capital goods. d. consumer goods.
How is state and local government funded and how does such funding differ from federal government funding?