The fact that individual productive resources are NOT equally useful in all activities
A) implies that a production possibilities frontier will be bowed outward.
B) implies that gain from specialization and trade is unlikely.
C) follows from the law of demand.
D) implies a linear production possibilities frontier.
A
Economics
You might also like to view...
The increase in the average unemployment rate in the 1970s was the result of
A) higher real wage rates. B) an increase in the birth rate in the early 1970s. C) repeated increases in the minimum wage. D) an increase in the birth rate in the late 1940s and early 1950s. E) the reduction of overly generous unemployment benefits in the 1970s.
Economics
A bank that has $10,000 in excess reserves can extend new loans up to a maximum of:
a. $1,000. b. $9,000. c. $10,000. d. $100,000.
Economics