Consider a production possibility frontier with jeans on the vertical axis and shoes on the horizontal axis. As a country moves along the frontier closer to the vertical axis,
A) the opportunity cost of producing jeans decreases.
B) inefficient production occurs.
C) the opportunity cost of producing jeans increases.
D) there are fewer tradeoffs.
E) the opportunity cost of producing shoes increases.
C
Economics
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The fact that price and quantity demanded are related negatively illustrates the:
a. law of supply. b. law of quantity supply. c. law of demand. d. law of quantity demanded. e. point that some facts are unobservable.
Economics
Which of the following can be considered as domestic assets of a country's central bank?
A. The country's government bonds owned by the central bank B. Foreign currency assets held by the central bank C. Currency issued by the central bank D. Bank deposits at the central bank
Economics