If the economy were at full employment and is producing at point Y,





A. the unemployment rate would increase.



B. the unemployment rate would decrease.



C. the production possibilities frontier would have shifted inward.



D. the production possibilities frontier would have shifted outward.


C. the production possibilities frontier would have shifted inward.

Economics

You might also like to view...

________ choose(s) the quantities of goods and services to produce, while ________ choose(s) the quantities of goods and services to buy

A) Firms; only households B) Households; the government C) Households; firms D) Firms; households and the government E) The government; firms

Economics

Bill's Lawn service starts the year with 20 lawn mowers. During the year, 3 mowers break and are not worth fixing. Bill also expands his business and buys 10 more mowers. Bill's gross investment is ________ mowers

A) 13 B) 10 C) 30 D) 27 E) 7

Economics

In what sense is capital accumulation costly to a society?

Economics

Monetary policy has medium-run effects on which of the following?

A) the level of output but not its composition B) both the level and composition of output C) the nominal interest rate D) the real interest rate E) none of the above

Economics