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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The government borrows money to cover budget deficits by
A) purchasing bonds. B) petitioning the International Monetary Fund. C) selling bonds. D) filling out a loan application at Citibank.
How can technology help mitigate the effects of climate change?
What will be an ideal response?
If Bob can produce completed mathematics homework assignments at a lower opportunity cost than Jane can accomplish, then Bob has ________ in completing mathematics homework assignments
A) a relative advantage B) an absolute advantage C) a complete advantage D) a comparative disadvantage
In her book on the American work week, economist Juliet Schorr argues that Americans work too much. Her argument may be interpreted as concluding that this behavior
a. increases GDP but decreases well being. b. increases GDP and increases well-being. c. decreases GDP and decreases well being. d. decreases GDP but increases well being.