Japan could shift its production possibilities curve outward (to the right) if
A. it could buy some islands in the Pacific Ocean, thus increasing its available amount of land.
B. it could devote more of its output to military goods.
C. it could devote more of its output to producing consumer goods.
D. all of the choices are true.
A. it could buy some islands in the Pacific Ocean, thus increasing its available amount of land.
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Holding other factors constant, if employers automatically enroll employees in retirement savings programs in order to overcome psychological barriers to saving, then the real interest rate will ________ and the equilibrium quantity of saving and investment will ________.
A. increase; decrease B. increase; increase C. increase; not change D. decrease; increase
An increase in aggregate demand is most likely to result in
A. inflation. B. recession. C. economic stagnation. D. a decrease in real GDP.
In 2012, the U.S. federal debt held by the public was:
A. held largely by foreign governments. B. about four times as large as the GDP. C. about twice as large as the GDP. D. about 70 percent of the size of the GDP.
If GNP is $500 billion, receipts of factor income from the rest of the world are $15 billion, and payments of factor income to the rest of the world are $5 billion, then GDP is
A. $480 billion. B. $490 billion. C. $510 billion. D. $520 billion.