Production functions used in economic growth theory are always limited to two inputs: labor and capital
Indicate whether the statement is true or false
False
Economics
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The above figure shows the production possibility frontier for a country. What is the opportunity cost to move from point D to point B?
A) 12 tons of rice B) 15 thousand bottles of wine C) 6 thousand bottles of wine D) 9 thousand bottles of wine E) Nothing, it is a free lunch.
Economics
Fiat money is generally issued by
A) brokerage firms. B) private banks. C) major multinational corporations. D) central banks.
Economics