Refer to the information provided in Figure 2.6 below to answer the question(s) that follow.
Figure 2.6Refer to Figure 2.6. Which of the following will shift an economy's production possibility frontier from ppf2 to ppf1?
A. a decrease in the economy's capital stock
B. a change in consumer's tastes
C. an increase in production efficiency
D. economic growth
Answer: A
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We can derive the market demand curve for gold earrings
A) only if the tastes of all gold earring consumers are similar. B) by adding the prices each gold earring consumer is willing to pay for each quantity. C) by adding horizontally the individual demand curves of each gold earring consumer. D) by adding vertically the quantity demanded of each gold earring consumed at each price.
Hughes and Cain (2011) talk about falling levels of investment during the Great Depression. What does the "investment" that they are talking about refer to?
(a) Engineering ideas behind the industry of the era (b) Money loaned by banks to consumers (c) Land, labor, and equipment used in production (d) Tools, equipment, machines, and buildings used in production
The socially optimum equilibrium occurs where the private cost curve intersects the demand curve
a. True b. False Indicate whether the statement is true or false
Market demand is determined by all of the following except
A. Expectations about future income. B. The number of potential sellers. C. Income. D. Tastes.