Multiple Choice
If there is always a three- for- one trade- off between the production of goods X and Y, then the production possibilities boundary for X and Y is
A) a downward- sloping straight line.
B) a downward- sloping curve convex to the origin.
C) a downward- sloping curve concave to the origin.
D) semi- circular.
E) a downward- sloping straight line that is broken at one point.
Correct Answer:
Verified
Correct Answer:
Verified
Q3: Complex economic plans for many economic sectors
Q5: Which of the point(s)below is (are)true of
Q30: Behaviour in free- market economies is<br>A)determined by
Q32: The opportunity cost of producing good A
Q33: In the Canadian economy, most decisions regarding
Q34: If some income earned by households is
Q36: A straight- line production possibilities boundary differs
Q37: An insight first fully developed by Adam
Q38: Consider a production possibilities boundary showing the
Q39: Which countries have mostly public ownership of