The concave, or bowed-out, shape of the production possibilities curve illustrates the law of increasing opportunity costs.
Answer the following statement true (T) or false (F)
True
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The takings clause states that the government can seize private property only if ________ is provided
A) comparably-valued property B) just compensation C) fair market value D) the seller's asking price
Everything else held constant, if total consumption increases from $600 to $800 because of an increase of disposable income of $400, then the mpc is equal to
A) 0.2. B) 0.4. C) 0.5. D) 0.6.
Investment banks purchase new security issues in the hope of making a profit. This is the act of
A) reinsuring. B) factoring. C) syndicating. D) underwriting.
The value added approach involves adding up the value of the final product and the value of intermediate goods used in the production process
a. True b. False Indicate whether the statement is true or false