Improving the education level of the labor force will
A. shift the production possibilities curve inward.
B. not shift the production possibilities curve since the total size of the labor force has not been changed.
C. shift the production possibilities curve outward.
D. cause a movement from a point inside the production possibilities curve to a point on the curve.
C. shift the production possibilities curve outward.
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Suppose the cost of flying a 200-seat plane for an airline is $100,000 and there are 10 empty seats on a flight. The airline should sell a ticket to a standby passenger only if the passenger is willing to pay
a. more than $200. b. more than $300. c. more than $500. d. This cannot be determined from the information given.
Why do people demand money balances (i.e., hold currency and checking account balances) as a way of holding their wealth, rather than, financial investments?
a. Some amount of money is demanded for everyday market transactions like parking fees, lunch, and buying groceries. b. Money balances generally earn a higher return than other financial investments. c. Holding money balances serves as a way of protecting one's assets from the effects of inflation. d. People demand money balances to increase money supply in the economy.
GDP tends to overstate economic well-being because it takes into account:
What will be an ideal response?
Refer to the data. DI is:
Answer the question on the basis of the following data. All figures are in billions of dollars.
A. $284.
B. $329.
C. $274.
D. $402.