The slope of a production possibilities frontier
A) is always varying.
B) measures the opportunity cost of producing one more unit of a good.
C) has no economic relevance or meaning.
D) is always constant.
B
Economics
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The figure above shows the U.S. demand and U.S. supply curves for cherries. Suppose the world price of cherries is $2 per pound. At this price, U.S. consumption of cherries will equal
A) 200,000 pounds. B) 400,000 pounds. C) 600,000 pounds. D) 800,000 pounds. E) 0 pounds.
Economics
The federal government debt as a percentage of GDP fell
A) from 1980-1992. B) from 2002-2007. C) during the Great Depression. D) during World War I and World War II. E) from 1998-2001.
Economics