Production efficiency is represented by ________ a production possibilities frontier
A) all points on
B) all points inside
C) all points outside
D) a movement along
E) only one point on
A
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An increase in the money wage rate shifts the short-run aggregate supply curve ________; an increase in technology shifts the long-run aggregate supply curve ________
A) rightward; rightward B) rightward; leftward C) leftward; rightward D) leftward; leftward
Automatic stabilizers are government programs that:
a. exaggerate the ups and downs in aggregate demand without legislative action. b. bring expenditures and revenues automatically into balance without legislative action. c. shift the budget toward a deficit when the economy slows but shift it toward a surplus during an expansion. d. increase tax collections automatically during a recession.
Egypt has exports of $500 million and imports of $750 million. Egypt
a. sells more overseas then it buys from overseas; it has a trade deficit. b. sells more overseas then it buys from overseas; it has a trade surplus. c. buys more from overseas then it sells overseas; it has a trade deficit. d. buys more from overseas then it sells overseas; it has a trade surplus.
The productivity slowdown of the 1970's occurred:
A. only in the U.S, the United Kingdom, and Japan. B. only in the U.S. and the United Kingdom. C. only in the U.S. D. around the world.