A production possibilities frontier that is bowed-inward implies
A) economies of scale.
B) diseconomies of scope.
C) economies of scope.
D) no economies of scope.
B
Economics
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The economy is considered to be at full employment when the rate of cyclical unemployment is zero
Indicate whether the statement is true or false
Economics
If the price of paperback books increases and consumer expenditures on paperback books also increase, which of the following is necessarily true?
What will be an ideal response?
Economics
Force that encourages people to start businesses and attempt to improve their material well-being
a. profit motive b. capitalism c. consumer sovereignty d. voluntary exchange
Economics
What role does population growth play in economic development?
What will be an ideal response?
Economics