The Law of Increasing Opportunity Costs Exists Because

question 233

Multiple Choice

The law of increasing opportunity costs exists because:

• A)resources are not equally efficient in producing various goods.
• B)the value of the dollar has diminished historically because of persistent inflation.
• C)wage rates invariably rise as the economy approaches full employment.
• D)consumers tend to value any good more highly when they have little of it.

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Definitions:

Obturator Foramen

The obturator foramen is a large opening in the pelvic bone through which nerves and blood vessels pass.

Bony Features

Characteristics or structures formed by bone, such as projections, depressions, and openings, that serve as sites for muscle attachment or passages for nerves and blood vessels.

Sella Turcica

A saddle-shaped depression in the sphenoid bone at the base of the human skull that houses the pituitary gland.

Sphenoid Bone

A butterfly-shaped bone at the base of the skull that is connected to all other skull bones.