If an economy produces only steel and wheat, a new fertilizer will
A) cause the production of wheat to increase at every point on a production possibilities curve but not affect the production of steel, that is the curve moves outward on the wheat axis only.
B) cause the production of both wheat and steel to increase at every point along the production possibilities curve, that is the curve moves outward on both the wheat axis and the steel axis.
C) not affect the production of either wheat or steel.
D) cause the production of steel to increase at every point along the production possibilities curve but not affect the production of wheat, that is the curve moves outward on the steel axis only.
A
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The "law of demand" indicates that if the University of Maine increases tuition, all other things remaining the same,
A) the demand for classes will decrease at the University of Maine. B) the demand for classes will increase at the University of Maine. C) the quantity of classes demanded will increase at the University of Maine. D) the quantity of classes demanded will decrease at the University of Maine. E) both the demand for and the quantity of classes demanded will decrease at the University of Maine.
With trade, countries can consume combinations of goods beyond their production possibilities frontier
a. True b. False Indicate whether the statement is true or false
An example of a capability considered in the capabilities approach would be:
A. to have the ability to purchase a luxury item you really want. B. being able to afford appropriate healthcare required for a healthy life. C. to be able to afford to travel freely. D. to have adequate food and shelter.
An increase in the budget deficit can be reflected in
A) an increase in private saving. B) a reduction in investment. C) a reduction in net exports. D) all of the above E) none of the above