1. 67. The law of increasing opportunity costs exists because:
A) wage increase economies approach full employment.
B) resources are not equally efficient in producing different goods.
C) inflation leads to a decrease in purchasing power over time.
D) producers are likely to overcharge consumers when there are shortages.
E)the additional output generated by workers decreases over time.

2. 68. A significant improvement in technology will:
A) shift the PPC from PP1 to PP2.
B) shift the PPC from PP2 to PP1.
C) move the economy from A to C along PP1.
D) move the economy from A, B, or C on PP1 to D.
E)cannot be shown on this graph

3. 69. The concept of opportunity cost is best represented by the:
A) shift of the PPC from PP1 to PP2.
B) move from B on PP1 to E on PP2.
C) move from B on PP1 to C on PP1.
D) move from D inside PP1 to B on PP1.
E) cannot be shown on this graph