Which of the following would not cause any kind of an outward shift of a nation's production possibilities curve [PPC]?
a. An improvement in the general level of education
b. Technological innovation
c. Discovery of a new source of energy
d. An increase in the size of the labor force
e. A flood that renders thousands of acres of farmland unusable
e
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The cost of inflation will be minimized if:
A) the growth rate of inflation equals the rate of growth of wages. B) taxes are increased during the periods of high inflation. C) money supply is increased during times of high inflation. D) the growth rate of inflation exceeds the rate of growth of wages.
Refer to Figure 4.1. Simon is the ________ player
A) row B) column C) chapter D) page
Nominal GDP will increase
A) only if the quantity of final goods and services produced rises. B) if either the price level or the quantity of goods and services produced rises. C) only if the price level rises. D) only if the price level falls.
The primary purpose of the discount window is to
A. fulfill the bank's lender of last resort role. B. influence the amount of loans that banks provide to the public. C. control banks' excess reserves. D. influence the nation's money supply.