Opportunity cost is illustrated on the production possibilities curve by a
A) bowed-out shape of the curve.
B) shift to the right of the curve.
C) shift to the left of the curve.
D) movement along the curve.
D
You might also like to view...
Your purchase in a downtown Cincinnati leather shop of an Italian-made Gucci purse would be classified in the U.S. GDP accounting as
a. an addition to inventory b. an investment good c. a domestic good d. an import e. an export
A country's exchange rate is the
A) price of its currency in terms of another currency. B) ratio of imports to exports. C) ratio of exports to imports. D) ratio of net exports to real GDP.
Which of the following is not an advantage of the corporate structure over proprietorship and partnership forms of business organization?
a. Stockholders in the corporation have limited liability, whereas proprietors or partners have unlimited liability. b. Ownership rights of a corporation may be transferred more easily. c. Large investment funds are more easily attracted by the corporation. d. Corporations are less likely to suffer from the principal-agent problem.
Core CPI is a. the CPI including only food, clothing, and energy. b. the CPI including only food and energy
c. the CPI excluding food, clothing, and energy. d. the CPI excluding food and energy.