Multiple Choice
Generally, opportunity costs increase and the production possibilities frontier bows outward. Why?
A) Labor is scarcer than capital.
B) Resources are not equally useful in all activities.
C) Unemployment is inevitable.
D) Technology is slow to change.
Correct Answer:
Verified
Correct Answer:
Verified
Q63: An opportunity cost of economic growth is<br>A)
Q64: When economic growth occurs, the<br>A) economy moves
Q66: A society that is producing on its
Q67: Economic growth<br>A) creates unemployment.<br>B) makes it more
Q69: The production possibilities frontier bows outward because<br>A)
Q70: <span class="ql-formula" data-value="\begin{array} { | l |
Q71: Marginal benefit curves slope<br>A) downward because of
Q72: Production points inside the production possibilities frontier<br>A)
Q107: Over the past several decades, the United
Q189: According to the principle of comparative advantage,