Consider the production possibilities curve for an economy producing only two commodities wheat (represented on the X axis) and wine (represented on the Y axis). A movement up along the production possibilities curve [PPC] will imply:
a. an increase in wheat production.
b. an increase in both wheat and wine production.
c. a decline in both wheat and wine production.
d. an increase in wine production.
e. no change in either wheat or wine production.
d
Economics
You might also like to view...
A financial security that represents a promise to repay a fixed amount of funds is a
A) share of stock. B) coupon. C) dividend. D) bond.
Economics
Future generations will be hurt by a high national debt if incurring the debt
A. was done to pay Social Security recipients. B. resulted in heavy commitments to bail out business firms. C. increased formation of capital. D. slowed the formation of capital.
Economics