All of the following could immediately or eventually lead to an inward shift of a nation's production possibilities curve, except:
A. emigration of skilled workers to other nations.
B. a decline in the birth rate.
C. an increase in the average skill level of all occupational groups.
D. depletion and reduced availability of major energy resources.
Answer: C
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As a plaintiff, all of the following will help you negotiate a larger settlement except which one?
A) increasing the defendant's estimate of damages B) decreasing the defendant's estimate of damages C) increasing the defendant's cost of litigation D) raising the defendant's subjective probability that you will win
When the government establishes a minimum price for an agricultural product above the equilibrium price, the government is creating a(n)
A) price ceiling. B) elevated price. C) price floor. D) surplus price.
In 1992 the EEC was replaced by the EU with an agreement to:
a. reduce trade barriers among the member countries. b. reduce trade barriers against nonmember countries. c. mutually restrict imports from nonmember countries. d. create a single market for goods and services in western Europe. e. enable the countries of Western Europe to emerge as major world powers.
International trade
A. raises the standard of living in all trading countries. B. lowers the standard of living in all trading countries. C. leaves the standard of living unchanged. D. raises the standard of living for importing countries and lowers it for exporting countries.