he condition where the opportunity cost of producing additional units of a good rises as society produces more of that good is known as ______.
a. increasing opportunity cost
b. deceasing production possibilities
c. efficient opportunity allocation
d. increasingly scarce efficiency
a. increasing opportunity cost
You might also like to view...
If the number of unemployed workers is 19 million, the number in the working-age population is 500 million, and the unemployment rate is 4%, what is the labor force participation rate?
A) 4.75% B) 7.8% C) 95% D) 96.2%
When effects are irreversible, it may be sensible to treat their possible causes even if they cannot be identified with certainty
Indicate whether the statement is true or false
If the graph shown represents Stella's budget constraint, and she has income of $48 to spend on these two items, Stella could choose which consumption bundle?
A. One pair of earrings and seven hairbands
B. Four pairs of earrings and eight hairbands
C. Three pairs of earrings and six hairbands
D. Two pairs of earrings and four hairbands
What is meant by the concept of a "coordination failure" in macroeconomics?