Multiple Choice
The bowed shape of the production possibilities frontier can be explained by the fact that
A) all resources are scarce.
B) economic growth is always occurring.
C) the opportunity cost of one good in terms of the other depends on how much of each good the economy is producing.
D) the only way to get more of one good is to get less of the other.
Correct Answer:
Verified
Correct Answer:
Verified
Q110: Which of the following statements is correct?<br>A)Few
Q111: Figure 2-2 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 2-2
Q112: Figure 2-1 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 2-1
Q113: In the circular-flow diagram,<br>A)firms own the factors
Q114: Figure 2-14 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 2-14
Q116: Home is a country that produces two
Q117: Which of the following trade-offs does the
Q118: Refer to Figure 2-13.Which of the following
Q119: Which of these terms are used interchangeably?<br>A)"goods
Q120: Figure 2-7 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 2-7