If additional units of output could be produced at constant opportunity cost, the production possibilities curve would be:
a. bowed inward toward the origin
b. bowed outward away from the origin.
c. positively sloped.
d. a straight line with a negative slope.
d
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The growth-reducing effects of high public debt are transmitted entirely through high real interest rates on that debt
a. True b. False Indicate whether the statement is true or false
During the Great Depression of the 1930s, the unemployment rate in the United States peaked at around
a. 5 percent b. 10 percent c. 12 percent d. 25 percent e. 50 percent
In moving along a demand curve, which of the following is not held constant?
A. the price of the product for which the demand curve is relevant B. consumer incomes C. people's tastes and preferences D. price expectations
A rightward shift in a demand curve and a rightward shift in a supply curve both result in a
A. Lower equilibrium quantity. B. Higher equilibrium quantity. C. Higher equilibrium price. D. Lower equilibrium price.