If an economy has to sacrifice only one unit of good X for each unit of good Y produced throughout the relevant range, then its production possibilities curve has a(n):
A) zero slope.
B) constant, negative slope.
C) increasing, negative slope.
D) decreasing, negative slope.
Ans: B) constant, negative slope.
Economics
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Which of the following is an example of state spending?
a. the state police who stopped to assist you when you had a flat tire b. the state campground where your family vacations c. state water quality inspections d. all of the above
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Opportunity costs arise due to
a. Resource scarcity b. Interest rates c. Limited wants d. Preferences
Economics