The slope of a country's production possibility frontier with cloth measured on the horizontal and food measured on the vertical axis in the specific factors model is equal to ________ and it ________ as more cloth is produced
A) -MPLF/MPLC; becomes steeper
B) -MPLF/MPLC; becomes flatter
C) -MPLF/MPLC; is constant
D) -MPLC/MPLF; becomes steeper
E) -MPLC/MPLF; is constant
A
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The impact of saving on the economy is
a. always beneficial b. always harmful c. beneficial in the short run, but not in the long run d. beneficial in the long run, but not necessarily in the short run e. neutral in both the short run and the long run
An aggregate supply curve represents the relationship between the:
a. Price level that producers are willing to accept and the price level buyers are willing to pay b. Price level and the production of real domestic output c. Price level and the buying of real domestic output d. Real domestic output bought and the real domestic output sold