If a Production Possibility Frontier Is Drawn Concave to the Origin

question 15

Multiple Choice

If a production possibility frontier is drawn concave to the origin with the quantity of shoes on the X-axis and the quantity of T-shirts on the Y-axis,a movement downward along the PPF reflects:

• A)a decreasing opportunity cost of both shoes and T-shirts.
• B)an increasing opportunity cost of both shoes and T-shirts.
• C)an increasing opportunity cost of shoes.
• D)a decreasing opportunity cost of shoes.

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Definitions:

Republicans

A political party in the United States known for its conservative positions on economic and social policies.

Black Suffrage

The right of Black people, especially in the United States, to vote, a legal milestone achieved throughout various stages of legislative action, most notably the Voting Rights Act of 1965.

Northern Financiers

Refers to the wealthy bankers and investors located in the Northern United States, particularly influential during the 19th and early 20th centuries, often associated with industrial growth and the financing of wars and infrastructure.