On a given production possibilities frontier, which of the following is not assumed to be fixed?
a. the amount of labor available
b. the amount of capital available
c. the level of technology
d. the amount of land and natural resources available
e. production of each item
E
Economics
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Free trade is better than protection for a small country
Indicate whether the statement is true or false
Economics
As capacity utilization in an economy rises:
a. firms sell their fixed assets to remain solvent. b. the gap between the potential output and actual output widens. c. firms reduce their demand for labor. d. employment of inputs by firms declines. e. firms add more factories and machines and increase output.
Economics