The slope of a production possibility frontier shows the _____
a. total cost of producing a good
b. opportunity cost of expanding production of one good
c. price of the good produced along the horizontal axis
d. total resources available in the economy
b
Economics
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Suppose the U.S. GDP growth rate is slower relative to other countries' GDP growth rates. This will
A) move the economy up along a stationary aggregate demand curve. B) shift the aggregate demand curve to the left. C) shift the aggregate demand curve to the right. D) move the economy down along a stationary aggregate demand curve.
Economics
If a firm is operating beyond the minimum point of its ATC curve, then marginal cost is
A. greater than ATC and rising. B. greater than ATC and falling. C. less than ATC and rising. D. less than ATC and falling.
Economics