Production possibilities in an economy decrease as more resources and better technology are utilized.
Answer the following statement true (T) or false (F)
False
More resources and better technology create a greater capacity to produce.
You might also like to view...
In 2014, some European countries were dealing with a recession. Workers who were laid off in those countries due to the economic downturn would be
A) frictionally unemployed. B) structurally unemployed. C) cyclically unemployed. D) seasonally unemployed.
You have data for compensation of employees, proprietors' income, rental income, and net interest. Can you compute national income?
A) Yes, all of the components of national income are given. B) No, since data on indirect business taxes are missing. C) No, since data on corporate profits is missing. D) No, since data on the capital consumption allowance is missing. E) No, since net interest has not been adjusted for profits.