According to the law of increasing opportunity costs,
A. Higher opportunity costs induce higher output per unit of input.
B. Greater production means factor prices rise.
C. Greater production leads to greater inefficiency.
D. Greater production of one good requires increasingly larger sacrifices of other goods.
Answer: D
You might also like to view...
If more and more labor is employed while keeping all other inputs constant, the marginal physical productivity of labor will eventually:
a. increase. b. decrease. c. remain constant. d. cannot tell from the information provided.
The largest corporate merger in the history of the world was between
A. AOL and Time Warner. B. Pfizer and Warner-Lambert. C. Vodafone Air Touch and Mannesmann. D. Exxon and Mobil.
A. is $1. B. is $2. C. is $3. D. cannot be determined with the information given
A. 800 units. B. 1,000 units. C. 1,200 units. D. 1,400 units.
The balanced-budget multiplier is calculated as the government spending multiplier minus the tax multiplier
Indicate whether the statement is true or false