As we move along the production possibilities frontier,

A) the production of one good increases as the production of the other good decreases.
B) more of both goods can be produced.
C) the possibilities of tradeoffs diminish.
D) a tradeoff is not possible because nations need all goods.
E) less of both goods can be produced.

A

Economics

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Which statement shows income as a factor affecting demand?

a. A factory in town gives its employees bonuses, and mall purchases increase. b. Many people move into a suburb because it has affordable housing. c. Advertising convinces people that jeans make them look overweight. d. Meteorologists predict a winter with lots of snow, so shovel sales rise.

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When money is accepted as payment in a market transaction, it is functioning as a

A) store of value. B) unit of accounting. C) medium of exchange. D) unit of investment.

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