Refer to the production possibilities frontier in the figure above. Which of the following movements requires the largest opportunity cost, in terms of good Y forgone, per extra unit of good X?
A) from point a to point b
B) from point b to point c
C) from point c to point d
D) from point d to point e
D
Economics
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What is GDP expressed in constant, or unchanging, prices called?
(A) Price level (B) Real GDP (C) Net national product (D) Nominal GDP
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The Navigation Acts (1651 and later amendments) were part of the contemporary European commercial policy theory called
(a) laissez-faire. (b) mercantilism. (c) commercialism. (d) classical liberalism.
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