Explain what will happen to the production possibilities curve over time if society gives up some consumption goods in favor of more capital goods.
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Q319: If an economy produces only steel and
Q320: A production possibilities curve will shift inward
A)
Q321: "Because resources are scarce, the production of
Q322: A production possibilities curve will shift outward
Q323: To have more consumer goods in the
Q325: The opportunity cost of more consumption of
Q326: Capital goods
A) are a special type of
Q327: Why does the trade-off between consumption goods
Q328: The trade-off between current consumption and the
Q329: The more society consumes today
A) the more
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