Scarcity is represented on a production possibilities frontier figure by
A) the amount of the good on the horizontal axis forgone.
B) the fact that there are only two goods in the diagram.
C) technological progress.
D) the fact there are attainable and unattainable points.
D
Economics
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If the Fed chose to change its policy actions implemented during the heart of the recession faster than the timing suggested by the White House, this would be an indication of the Fed's
A) independence. B) frictional relationship with the White House. C) changing its monetary policy target. D) lack of credibility.
Economics
Bob invests $75 in an investment that has a 50% chance of being worth $100 and a 50% chance of being worth $0. From this information we can conclude that Bob is
A) risk preferring. B) risk neutral. C) risk averse. D) irrational.
Economics