A production possibilities curve is negatively sloped because:
a. unemployment increases as an economy moves down along the curve
b. along the curve, production of one good must be sacrificed in order to increase production of another.
c. unemployment decreases as an economy moves down along the curve.
d. as the price falls, more goods are purchased.
b
Economics
You might also like to view...
Refer to Figure 9.2. A movement from point b to point a could be caused by a(n)
A) increase in government spending. B) decrease in the price of oil. C) increase in taxes. D) a massive crop failure.
Economics
The process in which an exporter sells a good to a country at a price below its own production costs is:
A) tariffing. B) rationing. C) trading. D) dumping.
Economics