Which of the following is NOT an assumption used in deriving a production possibilities curve?
A) The labor force is growing at a constant rate.
B) Resources are fully employed.
C) Technology is constant.
D) The quantity of resources is constant.
Answer: A
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Define marginal cost and calculate Brazil's marginal cost of producing a ton of food when the quantity produced is 2.5 tons per day
What will be an ideal response?
If both total employment and total output in an economy grow by 2 percent each year, then the annual growth in labor productivity in the economy over a decade will be equal to _____
a. 0 percent b. 2 percent c. 10 percent d. 20 percent e. 2 percent times the size of the labor force
Which of the following must be true if good X is a normal good and income increases?
a. The demand for X will increase, and thus the price and quantity sold and bought will decrease. b. The demand for X will decrease, and thus the price and quantity sold and bought will decrease. c. The demand for X will increase, and thus the price and quantity sold and bought will increase. d. The demand for X will decrease, and thus the price and quantity sold and bought will increase. e. The demand for X will increase, and thus the price and quantity sold and bought will remain the same.
Adding foreign financial assets to an investment portfolio raises the riskiness of the entire portfolio of investments.
Answer the following statement true (T) or false (F)