Points that lie inside (or below) the PPF are
A) unattainable.
B) attainable and productive efficient.
C) attainable but productive inefficient.
D) attainable and neither productive efficient nor productive inefficient.
C
Economics
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A reduction in the value of capital goods over time due to their use in production is called:
a. amortization. b. erosion. c. consumption. d. investment. e. depreciation.
Economics
Which of the following is true of nominal GDP?
a. It acts as an indicator of the general price level in the economy. b. It measures the real level of output in the economy. c. It measures national output based on the current year's prices. d. It tends to rise by a smaller amount than real GDP when the general price level increases. e. It measures changes in the output of intermediate goods and services.
Economics