The table above shows the production possibilities for an economy
Drawing a PPF with books on the vertical axis and bread on the horizontal axis, a movement from possibility B to possibility C to possibility D shows the opportunity cost of ________ moving down along the PPF. A) books decreasing
B) bread decreasing
C) bread increases
D) books is constant
E) books and bread are both increasing
C
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What does the process of specialization do for an economy?
a. It makes it more efficient. b. It eliminates unemployment. c. It fosters competition. d. It makes it easier to control.
Which of the following is one explanation as to why the aggregate demand curve slopes downward?
A) Decreases in the price level raise the interest rate and increase consumption spending. B) Decreases in the price level raise the interest rate and increase investment spending. C) Decreases in the price level raise real wealth and increase consumption spending. D) Decreases in the U.S. price level relative to the price level in other countries lower net exports.