The production possibilities curve shifts to the left when resources in the economy increase

The cost of inflation to society includes I. the opportunity costs of resources used by people to protect themselves against inflation. II. the diversion of productive resources to forecasting inflation

A) I only B) II only C) both I and II D) neither I nor II

If production displays constant returns to scale, then all economies of scale have been exhausted

Indicate whether the statement is true or false