An inward shift of the production possibilities frontier represents
A) negative economic growth. B) a rise in the unemployment rate.
C) technological improvement. D) positive economic growth.
A
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A market economy is an economy where:
a. economic decisions are passed down from government authority and resources are owned by the government. b. economic decisions are economic decisions are centralized, resources are owned by private individuals, and businesses supply goods and services based on demand. c. economic decisions are decentralized, resources are owned by private individuals, and businesses supply goods and services based on demand. d. economic decisions are passed down from government authority and resources are owned by individuals.
Historical evidence for the U.S. economy indicates that
a. recessions have occurred roughly once every six years since the 1960s. b. the unemployment rate usually decreases during a recession and increases shortly after the recession ends. c. real GDP usually remains roughly constant during a recession and decreases shortly after the recession ends. d. changes in real GDP over the business cycle are largely attributable to changes in investment over the business cycle.
When consumers have less information about a product than do sellers, then this is the situation of
A. a market failure. B. asymmetric information. C. caveat emptor. D. rationality.
Describe the basic issues involved in setting up a system of national accounts that includes the value of environmental capital and its loss
What will be an ideal response?