During times of war, many of a country's resources are often destroyed. This would be shown on a production possibility curve (PPC) by:
A) a movement down along the PPC
B) a shift of the PPC back and to the left
C) a movement up along the PPC
D) a movement of prediction levels from a point on the PPC to some point inside the PPC
Correct Answer:
Verified
Q12: In economics, the term 'capital' refers to:
A)
Q13: A point inside a production possibility curve
Q14: The reason that opportunity costs arise is
Q15: The problem of scarcity occurs:
A) only in
Q16: A cut in company tax rates intended
Q18: If a full- time student decides to
Q19: Consider two countries, Germany and Sweden. Germany
Q20: A production possibility curve will move outwards
Q21: That which we forgo, or give up,
Q22: A movement from a point inside a
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