If the opportunity costs of producing a good increase as more of that good is produced, the economy's production possibility frontier will be
A. a negatively sloped straight line.
B. negatively sloped and "bowed inward" toward the origin.
C. negatively sloped and "bowed outward" from the origin.
D. a positively sloped straight line.
Answer: C
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Which government agency regulates futures markets?
A) SEC B) Commodity Futures Trading Commission C) Board of Trade D) the Federal Futures Agency
Which of the following is counted as part of M2?
a. Currency b. All of the answers are correct. c. Money market funds d. Checkable deposits at commercial banks
If one country can produce a good with fewer resources than another country, this is called:
a. absolute advantage. b. geographic advantage. c. specialization. d. comparative advantage.
The nation as a whole is better off from trade as long as the gains from the winners exceed the losses from the losers
Indicate whether the statement is true or false