Which of the following statements is true?
A) An economy's production possibilities curve is convex to the origin.
B) The opportunity cost of producing a good decreases as more resources are used for its production.
C) The production possibilities curve of a country is fixed in the short run.
D) The slope of the production possibilities curve represents the terms of trade between two states.
C
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In part, a country's current account measures
A) its current debt as opposed to its long-term debt. B) borrowing and lending activity between the country's residents and foreigners. C) net increases and decreases in a country's holdings of foreign currency. D) receipts from the sale of goods and services to foreigners and payments for goods and services bought from foreigners.
A matrix form is more likely to be found in organizations which:
a. produce one product and operate in a single market. b. produce many products and operate in a single market. c. produce one product and operate in multiple markets. d. produce many products and operate in multiple markets.