The slope of a production possibilities frontier measures the ________ of producing one more unit of a good
A) marginal revenue
B) total revenue
C) marginal cost
D) opportunity cost
Answer: D
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How would each of the following events likely change measured GDP?
a. The sale and use of marijuana is legalized. b. There is an increase in sales of counterfeit video games. c. A foreign-owned furniture manufacturer opens a production facility in South Carolina. d. More people choose to forgo their lawn maintenance services to take care of their own yards.
A change in the interest rate does not affect the quantity of money supplied. This means that:
a. the money supply curve is negatively sloped. b. the money supply curve is vertical. c. the money supply curve is horizontal. d. the money supply curve is a 45 degree line drawn from the origin. e. the money supply curve is kinked.