On a Diagram of a Production Possibilities Frontier, Opportunity Cost

question 286

Multiple Choice

On a diagram of a production possibilities frontier, opportunity cost is represented by

• A) a point on the vertical axis.
• B) the slope of the production possibilities frontier, which indicates that to get more of one good requires less of another.
• C) a ray through the origin.
• D) a point on the horizontal axis.

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Definitions:

Proprietary Fund

A type of fund used in governmental accounting that is used to account for activities similar to those found in the private sector, where the payment of fees by external users for goods or services provided by the fund is the principal source of revenue.

Special Tax Levy

A tax imposed for a specific purpose, often by local or state governments, beyond regular taxing mechanisms.

Environmental Preservation

Actions and policies aimed at protecting the natural environment from degradation and pollution to ensure its health and sustainability for future generations.

Derived Tax Revenue

Income obtained by government authorities through taxation that is influenced or generated from specific business activities or transactions.