If the economy were producing at point E and moved to point D,
A. the unemployment rate would increase.
B. the unemployment rate would decrease.
C. the production possibilities would shift outward.
D. the economy would shift resources from producing butter to increasing the production of guns.
D. the economy would shift resources from producing butter to increasing the production of guns.
You might also like to view...
The difference between a tariff and a quota is that the tariff revenue goes to the
A) domestic government. B) holder of the quota license. C) foreign government. D) domestic consumer. E) domestic producer.
Mario's Pizza and Bella's Pizza are in tacit collusion to cooperate and each charge a high price for their pizzas. If Mario's Pizza initially cooperates with Bella's Pizza, but then switches and charges a low price and Bella's Pizza responds by forever charging a low price, this is an example of ________.
A) a trigger strategy B) a tit-for-tat strategy C) a one -shot game D) an end-period problem
Under perfect competition, at the profit-maximizing level of output:
a. price is greater than marginal revenue. b. price is equal to marginal revenue. c. marginal revenue is equal to zero. d. the marginal revenue curve is upward sloping. e. the average revenue curve is upward sloping.
Which of the following represents a difficulty related to setting the national poverty line in the United States?
a. Many people around the world are poorer than Americans. b. It is impossible to distinguish the poverty line from the poverty rate. c. Social programs mean that nobody in the United States is living in poverty. d. Median income and cost of living vary in different parts of the country.