When resources are destroyed the production possibilities curve inward to the left
Indicate whether the statement is true or false
T
You might also like to view...
Which of the following is considered a determinant of long-run economic growth?
a. Increase in the interest rates b. Changing expectations c. Increase in the money supply d. Growth in productive resources e. Reduction in government spending
The scientific method is:
A. not applicable to economics because economics deals with human beings. B. also known as the economic perspective. C. analysis that moves from broad generalizations called laws to theories and then to hypotheses. D. used by economists and other social scientists, as well as by physical scientists and life scientists, to formulate and test hypotheses.
According to the general utility formula, the marginal utility of a good divided by the price of that good is ________.
A. less that negative one B. equal to one C. greater than one D. equal to zero
One way insurance companies deal with the problem of adverse selection is by:
A. screening applicants. B. charging the same price to everyone. C. monitoring policyholders after they have purchased insurance. D. spreading the risk in the same geographic area.