As more of a good is produced, its opportunity cost tends to increase because resources are not equally efficient at producing all goods

By external balance, most economists mean

A) avoiding excessive imbalances in international payments. B) balance between exports and imports. C) balance between the trade and service accounts. D) what amounts to fixed exchange rates. E) imbalance in internal transactions.

The opportunity cost of producing a dining room table refers to the

a. quantity of money required to produce the table b. quantity of money required to buy the table c. quantity of other goods that must be given up to produce the table d. quality of the table e. use of lumber to produce the table