How are the slope of a production possibilities frontier and the opportunity cost of the goods related?
a. The slope is a graphical representation of the cost of expanding production of both goods.
b. The slope is a graphical measure of the growth rate of the economy.
c. The slope is a graphical representation of the cost of decreasing unemployment.
d. The slope is a graphical representation of the rate of trade-off between the goods.
e. The slope is a graphical representation of the cost of economic growth in the economy.
d
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Because two percent of the largest farms grow half of all of the grain in the United States, the grain industry is technically classified as an oligopoly
Indicate whether the statement is true or false
Which price index published by the US federal government represents wholesale price changes?
A) Consumer Price Index B) Producer Price Index C) GDP deflator D) Dow-Jones Industrial Average