Which of the following is a possible explanation for the shift of the production possibilities curve illustrated?
a. an increase in the number of idle factories
b. a technological advance that affects only bicycle production
c. a technological advance that affects both pizza and bicycle production
d. a decrease in the quantity of labor available due to emigration
c
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In 2014, in the United States the sum of the balance of all three of the balance of payments accounts was
A) slightly negative. B) slightly positive. C) greatly positive. D) greatly negative. E) zero.
If the market interest rate is 5 percent, the opportunity cost of $100 worth of present consumption
a. is $105 today b. is $105 next year c. is $5 today d. is $5 next year e. cannot be determined unless we know the consumer's rate of time preference
For a person earning $75,000, the marginal tax amount from 10,001 to $15,000 is:
A. $500
B. $750
C. $1,750
D. $2,000
Which is true about the means of production?
A. Under capitalism it is privately owned, and under fascism it is owned by the government. B. Under fascism it is privately owned, and under capitalism it is owned by the government. C. Under both capitalism and fascism it is owned by the government. D. Under capitalism and fascism it is privately owned.