Any movement along an existing production possibilities curve will
a. increase the production of one good while decreasing the production of the other.
b. increase the production of both goods
c. increase efficiency.
d. increase employment.
a
You might also like to view...
What are the components of M2?
What will be an ideal response?
What is the difference between nominal variables and real variables? Discuss the calculations undertaken to determine the real wage rate and the real interest rate. Explain why the real wage rate and real interest rate are real variables
What will be an ideal response?
Oil price increases encourage oil conservation
Indicate whether the statement is true or false
Suppose an investor with state-independent tastes is offered the choice between investment A and investment B. Investment A offers profit of $2,000 with probability 0.4, $4,000 with probability 0.2 and $6,000 with probability 0.4. Investment B offers profit of $2,000 with probability of 0.5 and $6,000 with probability 0.5. If the investor is risk averse, he will choose investment A.
Answer the following statement true (T) or false (F)