If the Opportunity Costs of Producing a Good Increase as More

question 40

Multiple Choice

If the opportunity costs of producing a good increase as more of that good is produced, the economy's production possibility curve will be:

• A) a negatively sloped straight line
• B) a positively sloped straight line
• C) negatively sloped and 'bowed inward' toward the origin
• D) negatively sloped and 'bowed outward' from the origin

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Definitions:

Drugs

Substances used for medical treatment, either to alleviate symptoms or to cure diseases, but also can refer to illegal substances used for recreational purposes.

Gini Index

A measure of income inequality or wealth distribution within a nation, ranging from 0 to 1, with 0 representing perfect equality and 1 representing perfect inequality.

Inequality

The unequal distribution of resources, opportunities, and treatment among people based on various factors such as wealth, income, race, gender, and education.

Nations Worldwide

Refers to all sovereign states across the globe, each with its own government and defined territory.