true or false

The law of increasing costs states that as a country produces less of one product and more of another, there is an increase in the resources needed to expand production of the second product.TRUEFALSE2 points  QUESTION 2The line drawn on a production possibilities graph is known as the production possibilities frontier.TRUEFALSE2 points  QUESTION 3Use this production possibilities graph to help you answer the following question.    Any intersection of points outside the frontier (line) on a production possibilities graph would show that the economy is…growing due to a decrease of resources.growing due to an increase of resources.decreasing due to a decrease of resources.decreasing due to an increase in resources.2 points  QUESTION 4Production possibilities graphs illustrate the variety of ways that prices can be decreased.TRUEFALSE2 points  QUESTION 5Production possibilities graphs can help us understand how shortages occur.TRUEFALSE2 points  QUESTION 6Economists often use production possibilities graphs to explore the choices and trade-offs that people make.TRUEFALSE2 points  QUESTION 7An intersection of points outside the frontier (line) shows that an economy is growing.TRUEFALSE2 points  QUESTION 8The line drawn on a production possibilities graph is called a _________.frontiershortageincentiveintersection2 points  QUESTION 9Which of the following cannot be shown on a production possibilities graph?growthscarcityefficiencyopportunity cost2 points  QUESTION 10Economists often use production possibilities graphs to explore scarcity.TRUEFALSE