Suppose That in a PPF Graph,wheat Is on the Vertical

question 236

Multiple Choice

Suppose that in a PPF graph,wheat is on the vertical axis and jets are on the horizontal axis.Moving down along the PPF,the

• A) number of jets increases and the opportunity cost of jets increases.
• B) amount of wheat increases and the opportunity cost of wheat increases.
• C) number of jets increases and the opportunity cost of jets decreases.
• D) amount of wheat increases and opportunity cost of wheat decreases.
• E) opportunity cost of jets and wheat both increase.

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Definitions:

Government Inefficiency

Occurs when government actions result in wasted resources, over-expending, or achieving outcomes that do not maximize social welfare.

Production Cost

The total expense incurred in manufacturing a product or providing a service, including raw materials, labor, and overheads.

Remittances

Money sent back home by migrants to family members in their country of origin.

Emigrants

Individuals who leave their country of origin to live permanently in another country.