A bowed-out production possibility frontier represents decreasing opportunity costs.
Answer the following statement true (T) or false (F)
False
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According to James and Skinner, in 19th century American manufacturing, ____________ was scarce, but __________________ was even scarcer
a. unskilled labor; capital b. capital; skilled labor c. unskilled labor; fuel sources d. capital; raw materials
If at the prevailing interest rate the demand for money is $3 trillion, and the supply of money is $2.5 trillion, then which of the following is true?
a. There is excess money supply, interest rates must fall in order to achieve an equilibrium in the money market. b. There is a shortage of money, interest rates must fall in order to achieve an equilibrium in the money market. c. There is a shortage of money, interest rates must rise in order to achieve an equilibrium in the money market. d. There is excess money supply, interest rates must rise in order to achieve an equilibrium in the money market.
A goldsmith with 100 gold coins in his safe and 400 goldsmith's receipts in circulation has a reserve ratio of
A. 400%. B. 100%. C. 50%. D. 25%.
What percentage of United States personal income in 2017 came from transfer payments?
A. 9% B. 28% C. 51% D. 64%