Refer to Table 2-3. Assume Dina's Diner only produces sliders and hot wings. A combination of 80 sliders and 50 hot wings would appear
A) along Dina's production possibilities frontier.
B) inside Dina's production possibilities frontier.
C) outside Dina's production possibilities frontier.
D) at the vertical intercept of Dina's production possibilities frontier.
B
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All industrialized countries have become “service economies” in recent decades. Explain the reasons behind this shift.
What will be an ideal response?
Trading French wine for California wine is an example of intraindustry trade
Indicate whether the statement is true or false
The CPI overestimates inflation because
a. it often ignores the invention of new goods. b. it always includes discount stores. c. it allows substitution from more expensive goods to cheaper goods. d. all of the above.
The use of goods and services for personal satisfaction is known as
A) the law of increasing relative cost. B) specialization. C) comparative advantage. D) consumption.