Economic growth is shown by
A) a point near the top of the production possibilities curve.
B) a point outside the production possibilities curve.
C) an inward shift of the production possibilities curve.
D) an outward shift of the production possibilities curve.
Answer: D
You might also like to view...
A linear downward-sloping demand curve has price elasticities (in absolute values) that
A) increase as price decreases. B) remain constant along the demand curve. C) decrease as price decreases. D) are greater than or equal to 1.
Monopolistically competitive firms engage in both price and quality competition.
Answer the following statement true (T) or false (F)
Refer to Figure 15.6. Which of the following Fed actions is most likely to decrease the aggregate demand curve from AD2 to AD1?
A. Lowering the discount rate. B. Buying bonds in the open market. C. Raising the federal funds rate. D. Decreasing the reserve requirement.
When a society is more equal:
A. the more the economy grows, so the best economy is the most equal. B. the more everyone gains when the economy improves, but that doesn't mean the most equal society is the best society. C. economic growth will create imbalance, and the government will need to work to equalize incomes. D. economic growth will provide the most resources for its disadvantaged members .