Refer to the information provided in Figure 30.1 below to answer the question(s) that follow.
Figure 30.1Refer to Figure 30.1. Which of the following could cause a movement from Point C to Point B?
A. a decrease in the interest rate
B. an increase in the interest rate
C. positive growth in aggregate output
D. negative growth in aggregate output
Answer: B
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Technological progress makes the production possibilities frontier
A) shift inward toward the origin. B) become more linear and less bowed. C) shift outward from the origin. D) become less linear and more bowed.
Refer to Table 29-1. Use the information in the table to prepare a balance of payments account and find the value of the statistical discrepancy. Assume that the balance on the capital account is zero
What will be an ideal response?
One reason a gift card might be less desirable than cash?
A) A gift card requires an individual to purchase from a particular store, which restricts the choice set. B) Cash requires an individual to purchase from a particular country, which restricts the choice set. C) Cash and the gift card are equally desirable, there is no problem here. D) Gift cards are easier to steal or lose relative to cash.
The rate of economic growth is the annual rate of change in per capita real GDP. This measure of the rate of growth of a? nation's economy takes into account both its growth in overall production of goods and services and the growth rate of its population. It is an average measure that does not account for possible changes in the distribution of income or various welfare costs or benefits that may accompany growth of the economy.
What will be an ideal response?