AACSB Analytic thinking Special Feature None 96 A decrease in population shifts

Aacsb analytic thinking special feature none 96 a

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AACSB: Analytic thinkingSpecial Feature: None96) A decrease in population shifts the production possibility frontier outwards over time.Answer: FALSEDiff: 1 Page Ref: 43Topic: Economic Growth*: RecurringLearning Outcome: Micro-3: Discuss different types of market systems and the gains that can bemade from trade.AACSB: Analytic thinkingSpecial Feature: None97) If additional units of a good could be produced at an increasing opportunity cost, the production possibility frontier would be linear.Answer: FALSEDiff: 2 Page Ref: 42Topic: Opportunity Cost*: RecurringLearning Outcome: Micro-3: Discuss different types of market systems and the gains that can bemade from trade.AACSB: Analytic thinkingSpecial Feature: None41*You can buy complete chapters by: Contact Us: [email protected]
98) On a diagram of a production possibility frontier, economic growth is represented by the slope of the production possibility frontier.Answer: FALSEDiff: 2 Page Ref: 39Topic: Opportunity Cost*: RecurringLearning Outcome: Micro-3: Discuss different types of market systems and the gains that can bemade from trade.AACSB: Analytic thinkingSpecial Feature: None99) What is meant by the term opportunity cost?Answer: Opportunity cost is the highest-valued alternative that must be given up to engage in anactivity.Diff: 2 Page Ref: 39Topic: Opportunity Cost*: RecurringLearning Outcome: Micro-3: Discuss different types of market systems and the gains that can bemade from trade.AACSB: Analytic thinkingSpecial Feature: None100) What is economic growth?101) What is a production possibilities frontier? What do points along the frontier represent?

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