Author Question: The law of increasing opportunity costs implies that: a. a production possibilities curve will be ... (Read 53 times)

cherise1989 · **on:** Jun 30, 2018

The law of increasing opportunity costs implies that:
a. a production possibilities curve will be bowed inward toward the origin.
b. a production possibilities curve will be bowed outward away from the origin.
c. a production possibilities curve will be a straight line.
d. a production possibilities curve will be upward sloping.

Question 2

When the price level falls, households and firms reduce their holdings of money, leading to a lower interest rate and an increase in borrowing and an increase in RGDP demanded.
a. True
b. False
Indicate whether the statement is true or false