As an economy grows,
A) its PPF does not shift; instead, the production point moves from inside the PPF to be closer to the PPF.
B) the opportunity cost of production will approach 0.
C) it can eliminate scarcity.
D) its PPF shifts outward.
E) the opportunity cost of production will increase.
D
Economics
You might also like to view...
Which of the following is NOT true for a perfectly competitive firm?
A) P = MR B) AR = MR C) MR = TR D) P = AR
Economics
What causes the Tragedy of the Commons? (i) Social and private incentives differ. (ii) Common resources are not rival in consumption and are not excludable. (iii) Common resources are not excludable but are rival in consumption
a. (i) only b. (ii) only c. (i) and (ii) only d. (i) and (iii) only
Economics