If the Production Possibilities Frontier Is ________, Then Opportunity Costs

question 201

Multiple Choice

If the production possibilities frontier is ________, then opportunity costs are constant as more of one good is produced.

• A)bowed out
• B)bowed in
• C)non-linear
• D)linear

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Definitions:

Newly Industrialized Countries

These countries are in a transitional phase from developing to developed status, marked by rapid economic growth and industrialization.

Export Promotion

This represents strategies or policies implemented by a government or organization aimed at increasing the volume of its domestic goods and services sold abroad.

Import Substitution

A strategy used by countries to reduce dependency on foreign goods by encouraging the production of these goods within the country.

Private International Borrowing

The process by which private entities or corporations in one country borrow funds from foreign lenders, including banks or investors.