Refer to the information provided in Figure 2.6 below to answer the question(s) that follow.
Figure 2.6Refer to Figure 2.6. Which of the following will not cause the production possibility frontier to shift from ppf1 to ppf2?
A. the discovery of previously unknown oil fields
B. an increase in the stock of capital
C. an improvement in technology
D. a decrease in the unemployment rate
Answer: D
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Samantha was willing to pay $10 for a hamburger because she was hungry but she only paid $2.50. What is the marginal benefit Samantha gained from the hamburger?
A) $2.50 B) $7.50 C) $10.00 D) $12.50 E) None of the above answers is correct.
Arrow's impossibility theorem states that the majority rule fails to produce transitive preferences for society
a. True b. False Indicate whether the statement is true or false
In measuring the stock of money in the U.S., M1 includes
a. traveler's checks. b. savings deposits. c. credit cards d. none of the above.
If a hurricane were to wipe out the majority of the eastern seaboard in the United States:
A. neither the short-run nor long-run aggregate supply curves would be affected. B. only the long-run aggregate supply curve would shift left. C. only the short-run aggregate supply curve would shift left. D. the long-run and short-run aggregate supply curves would both shift left.