In order for a production possibilities curve to shift to the right, which of the following must occur?
A) government involvement
B) increasing consumer wants
C) economic growth
D) reductions in the supply of resources
Answer: C
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The most likely substitute good for hot dogs would be:
A. burgers. B. potato chips. C. ketchup. D. a plate.
A country has a comparative advantage in a product if the world price is _____ than that country's domestic price without trade
Fill in the blank(s) with correct word
Aggregate measures are
A. determined by the government. B. used only by policymakers but not by firms. C. anything to do with economics. D. a total measure of a variable in the economy.
Refer to the information provided in Figure 8.6 below to answer the question(s) that follow. Figure 8.6 Refer to Figure 8.6. Average fixed cost is represented by
A. curve 1. B. curve 2. C. curve 3. D. line segment AB.