Different points on a production possibilities curve:
A) yield the same values of total output.
B) yield different values of total output.
C) have the same values of slope, if the production possibilities curve is non-linear.
D) can be achieved simultaneously
Answer: B) yield different values of total output.
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If the shifts in AD that will result from policy changes are fully and accurately anticipated, a decrease in government purchases or an increase in taxes would result in which of the following in the short run?
a. a higher level of real output and a higher price level b. a higher level of real output but no change in the price level c. a higher price level and a reduced level of real output d. none of the above.
A factor of production with unique attributes is able to command a scarcity rent determined by market demand
Indicate whether the statement is true or false
Which of the following topics is not a part of a typical scenario plan?
a. Expected changes in corporate governance practices. b. Expected changes in labor-management relations. c. Expected changes in government intervention and regulations. d. Expected changes in country infrastructure. e. Expected changes in budgets and capital budgeting projects.
The rule of 70 estimates how long it will take a country to double its real GDP per capita by:
A. multiplying the average growth rate by 70 percent. B. dividing the current real GDP per capita by 70. C. dividing the average growth rate by 70. D. dividing 70 by the average growth rate.