When there are sustained increases in real GDP over time, we say that the economy is undergoing
A) a recession. B) economic growth.
C) massive changes in productive capacity. D) economic stagnation.
B
Economics
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If the tradeoff between the two goods is constant, the production possibilities curve is
A) a negatively-sloped straight line. B) a positively-sloped straight line. C) a negatively-sloped curve which is bowed inward. D) a negatively-sloped curve which is bowed outward.
Economics
If most workers are risk adverse why do we still see many workers agreeing to contracts where their compensation is variable like commissions for magazine salesmen or car salesmen?
What will be an ideal response?
Economics