Which of the following will NOT shift an economy's production possibilities curve outward?
A. an increase in technology
B. an improvement in the literacy rate
C. a reduction in the unemployment rate
D. an increase in the number of workers available
C. a reduction in the unemployment rate
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Immigration accounts for what percentage of annual population growth in the United States in recent years?
A. About 10 percent B. About 20 percent C. About 33 percent D. About 50 percent
Consumers in a monopolistically competitive market do not receive any consumer surplus because the price paid for the product exceeds the marginal cost of production
Indicate whether the statement is true or false
A low-income household is usually who?
a. one person living alone b. a family headed by a single parent c. a family headed by a young single female, poorly educated and not working d. all of the above represent most low income households
The software and related services sector has a multiplier effect on the Indian economy with every one rupee input spent by the "information technology sector" producing an increase in real GDP by two rupees. According to the story, if __________ in the software and related services sector increases by $15 billion, real GDP will increase by __________.
a) investment; $30 billion b) consumption; $30 billion c) consumption; $2 billion d) investment; $2 billion