Multiple Choice
The discovery of new natural resources will cause
A) the economy to move closer to the production possibilities curve.
B) the production possibilities curve to shift up and to the right.
C) an upward movement along the curve.
D) the curve to shift back and to the left.
Correct Answer:
Verified
Correct Answer:
Verified
Q368: In the above figure, the combination of
Q369: Absolute advantage is<br>A) producing at a lower
Q370: Division of labor refers to<br>A) dividing tasks
Q371: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -Refer to the
Q372: Scarcity arises because<br>A) resources are limited and
Q374: When productive activities are organized according to
Q375: The trade-off between the present and future
Q376: Division of labor<br>A) increases the amount of
Q377: Why is efficiency desirable?<br>A) It results in
Q378: Economists are concerned with an individual's<br>A) needs