Which of the following will shift a production possibilities curve outward?
a. an increase in the unemployment rate
b. a decrease in the unemployment rate from 18% to 15%
c. an improvement in technology
d. a decrease in available labor and capital
c
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The primary function of the World Bank is to:
a. lend money to the World Trade Organization. b. provide loans to countries experiencing huge budget deficit. c. finance economic development in poor countries. d. assist countries experiencing balance of payments deficits. e. finance the fiscal stabilization program of the U.S. government.
Which of the following statements is TRUE?
A. Government spending as a percent of total national income has continuously decreased since the 1950s. B. Transfers in kind include Welfare, Social Security, and unemployment insurance benefits. C. Education is the largest category of federal government expenditures. D. Transfer payments are money payments made by the government for which no goods or services are currently received.
An important routine function of the Federal Reserve Bank is to:
A. supervise the liquidation of the assets of bankrupt state banks. B. help large commercial banks develop correspondent relationships with smaller commercial banks. C. advise commercial banks as to the most profitable ways of reinvesting profits. D. provide facilities by which commercial banks and thrift institutions may collect checks.
Classifying discouraged workers as unemployed would
A. increase the unemployment rate. B. not change the unemployment rate. C. decrease the unemployment rate. D. have an indeterminate impact on the unemployment rate.