If the tradeoff between the two goods is constant, the production possibilities curve is
A) a negatively-sloped straight line.
B) a positively-sloped straight line.
C) a negatively-sloped curve which is bowed inward.
D) a negatively-sloped curve which is bowed outward.
A
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The United States and other industrialized countries experienced rising inflation accompanied by a recession during the 1970s. This phenomenon was described as (a)
a. hyperinflation. b. stagnation. c. stagflation. d. depression.
Structural unemployment arises when
a. marginal productivity of labor becomes zero. b. there is a cyclical change in the economy. c. jobs are eliminated by changes in the economy. d. people change their jobs.
What factors can cause the portfolio demand for money to increase?
What will be an ideal response?
If the domestic producers of a good are hurt by a free trade, it suggests that the country:
A. is a net exporter of that good. B. has a comparative advantage in that good. C. is not able to produce that good. D. is a net importer of that good.