Some resources are better suited to produce certain goods than other resources. This fact leads to
A) a linear production possibilities curve.
B) inefficiency in the economy.
C) the law of increasing additional cost.
D) increases in technology.
C
Economics
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The supply of money is determined by the Federal Reserve and is dependent on the demand for money
Indicate whether the statement is true or false
Economics
Yesterday, one could get £2 for $1. Today, however, one can only get £1.5 for $1. Which of the following best describes this scenario?
a) The pound depreciated against the dollar. b) The pound appreciated against the dollar. c) The dollar appreciated against the pound. d) The purchasing power parity increased between the two currencies.
Economics