During a time of high unemployment, a country can increase the production of one good or service
A) by using resources in the production process twice.
B) without decreasing the production of something else.
C) and must increase the production of something else.
D) but must decrease the production of something else.
E) but the opportunity cost is infinite.
B
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If aggregate planned expenditure is greater than real GDP,
A) a planned decrease in inventories leads to a decrease in production. B) a planned increase in inventories leads to an increase in production. C) an unplanned decrease in inventories leads to an increase in production. D) an unplanned decrease in inventories leads to an increase in the price level. E) an unplanned increase in inventories leads to a decrease in production.
Usually the demand for labor decreases (that is, the demand for labor curve shifts leftward) if the
A) wage rate increases. B) wage rate decreases. C) price of the firm's output rises. D) prices of other factors fall.