According to the law of increasing opportunity cost,
a. production points outside the production possibility frontier are unattainable
b. the production possibility frontier becomes flatter as production increases along the horizontal axis
c. the opportunity cost of producing a good rises as production of that good falls
d. production points inside the production possibility frontier are unattainable
e. the opportunity cost of producing a good rises as production of that good rises
E
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Use the following figure to answer the question below.
Jorge's opportunity cost of producing 1 pound of corn is ________ pound(s) of green beans.
A. 2 B. 4 C. 1 D. 1/4
The nominal interest rate is determined by:
A. the point where the supply of money meets the demand for money. B. the Fed. C. the Treasury. D. inflation.
Dumping refers to selling a product abroad at higher prices than the product is sold domestically
Indicate whether the statement is true or false
A borrower has information that is not available to a prospective lender; this is an example of:
A. liquidity risk. B. a transfer of risk. C. information asymmetry. D. a wise borrower and an unwise lender.