The law of increasing opportunity costs implies that:
a. a production possibilities curve will be bowed inward toward the origin

If nation-states are able to extend effective control over ocean resources from 3 miles to 200 miles off their coasts, valuable marine animals are more likely to be harvested

A) at a rate consistent with their long-run preservation. B) at a rate inconsistent with their long-run preservation. C) too rapidly for maximum net benefit. D) too slowly for maximum net benefit. E) up to the point of extinction.

Which of the following is a true statement about the multiplier?

A) The multiplier is a value between zero and one. B) The smaller the MPC, the larger the multiplier. C) The multiplier rises as the MPC rises. D) The multiplier effect does not occur when autonomous expenditure decreases.