Economics is the social science that describes the way individuals and societies allocate resources to satisfy human wants
Indicate whether the statement is true or false
T
Economics
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The slope of the PPF can be expressed as:
a. the ratio of abundance of capital to labor. b. the preferences of consumers in terms of marginal utility. c. the ratio of the quantities of good 1 and good 2. d. the negative of the ratio of the marginal products of labor in producing each good
Economics
As a result of OPEC ________ oil prices in 1973 and 1980, real GDP in United States ________
A) increasing; increased B) increasing; decreased C) decreasing; increased D) decreasing; decreased E) increasing; did not change
Economics