Specialization and trade allow an economy to expand its:
a. production possibilities. b. consumption possibilities.
c. technological advantage. d. absolute advantage.
b
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If the government increases unemployment benefits, then the equilibrium amount of employment ________ and potential GDP ________
A) increases; increases B) does not change; does not change C) increases; decreases D) decreases; decreases E) decreases; increases
If the price of the good measured on the horizontal axis falls, a consumer's budget line
A) becomes flatter. B) becomes steeper. C) shifts rightward and its slope does not change. D) shifts leftward and its slope does not change.
The XX schedule shows how much
A) fiscal expansion is needed to hold the current account surplus at X as the currency is devalued by a given amount. B) monetary expansion is needed to hold the current account surplus at X as the currency is devalued by a given amount. C) fiscal expansion is needed to hold the current account surplus at X as the currency is evaluated by a given amount. D) fiscal and monetary expansions are needed to hold the current account surplus at X as the currency is devalued by a given amount. E) foreign funding is needed to hold the current account surplus at X as the currency is devalued by a given amount.
If decreasing long-run average cost is inherent in an industry's technology, then only one supplier can satisfy the entire market
Indicate whether the statement is true or false