If an economy has to sacrifice increasing amounts of good X for each additional unit of good Y produced, then its production possibility frontier is:
A. bowed out from the origin.
B. bowed in toward the origin.
C. a straight line.
D. a vertical line.
Ans: A. bowed out from the origin.
You might also like to view...
Using the table above, the number of people in the labor force is
A) 165 million. B) 175 million. C) 195 million. D) 185 million. E) 145 million.
Which of the following adjust to bring aggregate supply and demand into balance?
a. the price level and real output b. the real rate of interest and the money supply c. government expenditures and taxes d. the saving rate and net exports
In 2017, the Trump administration enacted ______.
a. a freeze on discretionary fiscal policy b. a freeze on automatic stabilizers c. tax cuts and government purchasing increases d. tax increases and government purchasing decreases
Refer to the information provided in Figure 6.4 below to answer the question(s) that follow.
Figure 6.4Refer to Figure 6.4. Bill's budget constraint is AC. If the black bean price decreases, Bill's budget constraint will
A. remain at AC. B. swivel toward AO. C. swivel toward AB. D. swivel toward AD.