The fact of increasing opportunity costs means that a production possibilities frontier will
A) be a straight line.
B) reach a maximum and then gradually decrease.
C) bow outward.
D) shift outward over time.
C
Economics
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Neither positive nor negative supply shocks a. Change AD
b. Permanently change real output in an economy. c. Change the price level in the long run. d. Do any of the above
Economics
Which of the following could be responsible for a decrease in the price of wheat?
a. an increase in the supply of wheat b. an increase in the demand for wheat c. a decrease in the demand for wheat d. Either a. or c. could decrease the rice of wheat.
Economics