Production possibilities frontiers usually curve out and away from the origin. The implication is
A) that as resources are used to produce one good, fewer resources are available to produce another good.
B) that the opportunity cost of producing a good goes down as more of that good is produced.
C) technological change is present.
D) that the opportunity cost of producing a good stays the same regardless of how much of that good is produced.
E) some resources are better at producing one good while other resources are better at producing alternative goods.
E
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The variables in the index of leading indicators are included in the index because
a. they are good indicators of the current rate of inflation. b. they generally lag behind turns in the business cycle. c. of their tendency to lead (or predict) turns in the business cycle. d. they are good indicators of the current state of the economy.
The advantage of real GDP as a measure is the fact that it only increases
a. True b. False Indicate whether the statement is true or false