Which of the following would NOT allow society to move to point "h" in the above figure?
A) an improvement in technology
B) more efficient use of current resources
C) an increase in quantity of labor
D) an increase in quantity of capital
B
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If the marginal social benefit of ice cream curve shifts rightward because people now like ice cream better than before, the marginal social cost curve of ice cream will shift leftward
Indicate whether the statement is true or false
According to the second monetarist proposition, which of the following factors do not determine the level of real output in the long run?
a. The stock of capital goods b. The size of the labor force c. The quality of the labor force d. The state of technology e. The quantity of money
An increase in the production of capital goods and a reduction in the production of consumer goods would most likely lead to a faster rate of future economic growth
a. True b. False Indicate whether the statement is true or false
Private solutions often are not possible due to the costs of negotiating and enforcing these solutions. Such costs are called: a. transaction costs
b. external costs. c. deadweight losses. d. social costs.