Question

A HEADLINE article in the text indicated that North Korea is expanding its missile programs, and at the same time it is running out of food. If North Korea is on its production possibilities curve and reduces food production so that it can increase the size of its military, this is an example of:____________.
A. opportunity costs
B. laissez faire
C. Externalities
D. ceteris paribus

Answer 1

Answer:

Opportunity cost

Explanation:

NK is taking this opportunity to expand its missile programs at the expense of food production.