Which of the following is false?
a. A production possibilities curve represents the potential total output combinations of any two goods for an economy.
b. On a production possibilities curve, we assume that the economy has a given quantity and quality of resources and technology available to use for production.
c. If an economy is operating inside its production possibilities curve, it is not at full capacity, and is operating inefficiently. Such an economy's actual output is less than potential output.
d. By putting unemployed resources to work or by putting already employed resources to better uses, we could shift out the production possibilities curve.
Question 2
An increase in investment combined with a decrease in education would have an indeterminate effect on both short run and long run aggregate supply.
a. True
b. False
Indicate whether the statement is true or false
The production of transgenic crops
An Inverted U Curve
Oxygen-binding curve for myoglobin
Hockey stick” curve
Conventional oil reserves have passed peak production
An electron is accelerated from rest through a potential difference. After acceleration the ...