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It's about opportunity costs - resources used to develop capital (steel mills, heavy machinery, etc.) isn't available to manufacture consumer goods, and vice versa.

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Is the statement 'Society faces a short-run tradeoff between inflation and unemployment' positive or normative?

positive


Does a production possibilities frontier represent the different choices of trade offs a society faces?

true: thats what possibilities repersents


What is the role of capital market to Nigerian economy?

The role of capital market to Nigerian economy is to mobilize long-term funds. To provide a mechanism for mobilizing private and public savings and makes such funds available for productive purposes.


Why marginal efficiency of capital decline?

The marginal efficiency of capital declines due to several factors, including diminishing returns on investment, increased costs, and market saturation. As more capital is invested, the additional output generated by each unit of capital tends to decrease, leading to lower profitability. Additionally, if the economy faces uncertainty or rising interest rates, investors may become more cautious, further reducing the attractiveness of new capital investments. Consequently, these factors contribute to a decline in the marginal efficiency of capital over time.


What are the 10 rules of economics?

1) Everyone faces tradeoffs 2)The cost of something is what you give up to get it. 3)Rational people think at the margin 4)Everyone responds to incentives 5)Everyone benefits from trade 6)Markets are a good way to organize economic activity. 7)The government can sometimes improve market outcomes. 8)A country's standard of living depends on its ability to produce goods and services. 9)Prices rise as the government prints too much money. 10)Society faces a short-run tradeoff between inflation and unemployment.

Related Questions

Is the statement 'Society faces a short-run tradeoff between inflation and unemployment' positive or normative?

positive


What is the similar between edges and faces and corners?

In a polyhedron, there are edges, faces, and corners. The thing that is similar, or common, between the edges, faces, and corners are the vertices.


What is the difference between flat faces and sides?

Faces are sides but sides (as in sides of a square) need not be faces.


What challenges does teen faces in society?

Teens are faced with a few different challenges in society. The mainly face peer pressure.


What is the connection between vertices edges and faces?

Faces + Vertices = Edges + 2 its easy


How would you describe the height of a cylinder or prism?

It is the linear distance between the two parallel and identical faces (which are also called the bases).It is the linear distance between the two parallel and identical faces (which are also called the bases).It is the linear distance between the two parallel and identical faces (which are also called the bases).It is the linear distance between the two parallel and identical faces (which are also called the bases).


In a triangular prism what is the relationship between the number of faces and the number of edges?

there are 5 faces and 6 edges


What is the difference between shapes of faces and number of faces?

you just divide the denominator by 7 and then add 2


What conflicts does Tommy face in Baxter's story the Gryphon?

He faces conflicts with society and what is defined as "normal".


What does character versus society mean?

Character vs. society means that the main antagonist keeping the character from achieving his or her goals is society. In other words, they're fighting their own culture to get to their goals.


What is the difference between a cube and a cubiod?

All faces of a cube are squares. A cuboid has 4 or 6 rectangular faces.


What shape has parallel hexagonal faces at each end with the faces between them equal?

Don't know find it yourself