The bowed shape of the production possibilities frontier can be explained by the fact that
a. all resources are scarce.
b. economic growth is always occurring.
c. the opportunity cost of one good in terms of the other depends on how much of each good the economy is producing.
d. the only way to get more of one good is to get less of the other.
c
Economics
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In a perfectly competitive market:
A. there are a few buyers. B.there is a cartel. C. no single buyer or seller can significantly affect the market price. D.there is a single seller.
Economics
The use of an absorption instrument allows a government to
A) increase or decrease national absorption. B) change the balance between imports and exports. C) alter the balance of payments with a specific country. D) reduce the influence of domestic absorption on exchange rates.
Economics