The fact of increasing opportunity costs means that a production ...

[Yi-Chen]

The fact of increasing opportunity costs means that a production possibilities frontier will
 
  A) be a straight line.
  B) reach a maximum and then gradually decrease.
  C) bow outward.
  D) shift outward over time.

Question 2

The curve labeled A in the above figure is
 
  A) a short-run aggregate supply curve.
  B) an aggregate demand curve.
  C) a long-run aggregate supply curve.
  D) a production possibilities curve.

[tashiedavis420]

Answer to Question 1

C

Answer to Question 2

B