Opening trade between nations enables each nation's consumption possibilities to go beyond the confines of its own production possibilities curve

Which of the following is a consequence of extending the payback period of a student loan from 10 to 30 years?

A) higher monthly payments B) more interest paid over the life of the loan C) faster payoff of principal D) lower monthly payments initially, but higher monthly payments in the future

The law of diminishing marginal productivity implies that identical increases in all inputs eventually will result in smaller incremental increases in total output.

Answer the following statement true (T) or false (F)