A country's production possibilities will grow if it
a. produces more guns than butter.
b. lowers its opportunity costs.
c. makes more trade-offs.
d. increases its resources.
Ans: d. increases its resources.
Economics
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Which of the following is likely to increase the total efficiency units of labor in an economy?
A) An increase in the level of education attained by each worker B) An increase in the amount of capital available to each worker C) An increase in the inflation rate in the economy D) An increase in the unemployment rate in the economy
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Economists and accountants both include forgone income as a cost to a small business owner
a. True b. False Indicate whether the statement is true or false
Economics