The production possibilities curve bows out because
A) production is efficient.
B) of the law of increasing additional cost.
C) production is inefficient.
D) resources are not being fully utilized.
Answer: B
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Supply-side economists encourage government to reduce taxes, deregulate, and increase spending on research and development because they think that these types of policies lead to greater long-run economic growth
a. True b. False Indicate whether the statement is true or false
Which of the following is the best example of an investment in human capital?
A. on-the-job training received by an apprentice electrician B. an increase in the number of hours worked per week by a worker in an unskilled laboring job C. the purchase of company stock by a worker D. payments into a retirement pension plan by a skilled laborer