Given its production possibilities curve, the optimal combination of outputs for a society:
a. is beyond the production possibilities curve

Policymakers use taxes to raise revenue for public purposes and to influence market outcomes

a. True b. False Indicate whether the statement is true or false

The shape of a short-run aggregate supply curve basically depends on what happens to production costs and, therefore, to the prices that businesses must receive to cover costs and make a profit as real domestic output expands.

Answer the following statement true (T) or false (F)