The proposition that states that as output increases for one good in an economy that is on its production possibilities curve, the cost of additional units of the good on the horizontal axis will be greater and greater is the:

The exchange-rate arrangement that emerged from the Bretton Woods conference is often called a managed float standard

a. True b. False Indicate whether the statement is true or false

If our economy is growing at a constant rate of 2 percent per year, then over a period of 20 years we would expect to see which of the following?

A. an upward sloping growth path B. nice, steady flat-line growth C. a downward sloping growth path D. It is impossible to say what kind of growth path we would see.