Which of the following is NOT an assumption under which the production possibilities curve is drawn?
A.) The economy's resources are fully employed.
B.) The price level is stable.
C.) Technology is being held constant.
D.) The supplies of factors of production are fixed.
E.) The trade-off of one good for another is not constant.
B.) The price level is stable.
Economics
You might also like to view...
What is the most-used instrument for controlling week-to-week changes in the money supply?
(A) The required reserve ratio (B) The money multiplier (C) The discount rate (D) Open market operations
Economics
If the interest rate is 10 percent and a business pays $100,000 for a lease on a factory, the explicit costs are
A) $110,000. B) $10,000. C) $100,000. D) $90,000.
Economics