Which of the following events would allow the production possibilities curve to shift outward?
A. More teenagers enter the labor force.
B. The economy's capital stock declines.
C. Technology is lost.
D. People begin to retire at earlier ages.
Answer: A
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A person who is not working and who has looked for work in the past, but is not looking for work now is not considered "unemployed."
Indicate whether the statement is true or false
Suppose the equilibrium price of movie tickets is $10. If the supply curve for movies shifts ________, the equilibrium price will ________
A) rightward; decrease B) leftward; decrease C) rightward; increase D) leftward; not change E) rightward; not change
There is a direct link between a nation's per capita real GDP and its:
a. c and e. b. c, d, and e. c. human capital investment. d. population. e. life expectancy.
The federal government's primary source of revenue is
a. the corporate income tax b. the personal income tax c. property taxes d. sales taxes e. customs duties