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Macro Economics > Lecture 2 > Flashcards

Lecture 2 Flashcards

1
Q

Increasing marginal opportunity cost (OC)

A

Opportunity costs increase as you produce more of one product

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2
Q

shifts in PPC: population growth

A

Population growth shifts PPC outward

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3
Q

The production possibilities curve PPC

A

Maximum combination of outputs that can be obtained from a given number of inputs

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Macro Economics (38 decks)

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