The production possibilities curve illustrates all of the following concepts except:
a. the law of increasing costs.
b. unlimited wants.
c. scarcity.
d. opportunity cost.
e. availability of resources.
b
Economics
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What agreement has been reached to reduce the moral hazard problem and what does it require?
What will be an ideal response?
Economics
To achieve long-run equilibrium in an economy with a recessionary gap, without the use of stabilization policy, the inflation rate must:
A. not change. B. increase. C. decrease. D. either increase or decrease depending on the relative shifts of AD and AS.
Economics