If a nation's production possibilities curve shifts outward, we should expect its long-run aggregate supply curve to
A) have an upward movement along the curve.
B) have a downward movement along the curve.
C) have a rightward shift.
D) have a leftward shift.
C
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The Keynesian model is based on the idea that
A) both consumption and saving are directly related to disposable income. B) saving depends only on the interest rate. C) consumption is unrelated to the level of real Gross Domestic Product (GDP). D) both consumption and saving are unrelated to the level of real Gross Domestic Product (GDP).
A fully-funded system
A. never needs to run a surplus. B. has current retirees being paid out of the taxes of current workers and has a sufficient amount of money on hand currently to pay out all future obligations. C. has current retirees being paid out of the taxes of current workers. D. has a sufficient amount of money on hand currently to pay out all future obligations.
If you were going to spend time in Great Britain, you would be paying for goods and services with
A. pounds. B. dollars. C. euros. D. gold.
A major reason that firms form a cartel is to:
A. Reduce the elasticity of demand for the product B. Enlarge the market share for each producer C. Minimize the costs of production D. Maximize joint profits