Economists generally agree on the role the government should play in promoting productivity and economic growth

a. True
b. False
Indicate whether the statement is true or false

False

Economics

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Increasing opportunity cost implies that

A) producing additional units of one good results in proportionately smaller reductions in the output of the other good. B) producing additional units of one good results in increasing amounts of lost output of the other good. C) the production possibilities frontier will be a straight line. D) the society will be producing inside its production possibilities frontier.

Economics

De Beers has a monopoly in the market for diamonds because they own a significant portion of the known diamond mines. One important source of challenge to De Beers' control of the diamond market is

a. the additional market supply from Russia, Australia, and Canada b. the emerging auction markets for diamonds in France and Spain c. the growing demand for diamonds in industrial uses d. that its South African mines are not producing as many diamonds as they did decades ago e. antitrust legislation in the United States

Economics