If there is always a three-for-one tradeoff between goods X and Y, then the PPF between X and Y is
A) a downward-sloping curve that is bowed outward.
B) a downward-sloping curve that is bowed inward.
C) a downward-sloping straight line.
D) an upward-sloping straight line.
C
Economics
You might also like to view...
With a temporary income tax surcharge, according to the ________, household consumption should ________
A) PIH; fall as disposable income falls B) PIH; rise since the decrease is disposable income is temporary C) LCH; fall since disposable income over the lifecycle falls D) None of the above is correct since a temporary change affects neither permanent income or relative lifecycle earnings.
Economics
Prior to 1914, did antitrust legislation have much effect on monopoly power in the United States?
Economics