Refer to the table above, which gives five points on a nation's PPF. As we increase the production of X,
A) the output of Y increases.
B) unemployment increases.
C) the opportunity cost of each new unit of X increases.
D) the opportunity cost of each new unit of X decreases.
C
Economics
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Which of the following is negative for the "typical" consumer at some level of real disposable income?
A) average propensity to consume B) marginal propensity to save C) average propensity to save D) marginal propensity to consume
Economics
All else equal, relative to a person who earns minimum wage, a person who earns $30 per hour has:
A. a lower opportunity cost of driving farther to work. B. a higher opportunity cost of taking the day off work. C. the same opportunity cost of spending time on leisure activities. D. a higher opportunity cost of working an additional hour.
Economics