Growth in a production possibilities curve diagram is shown as:
a. a movement along the curve to the southeast.
b. a movement along the curve to the southwest.
c. an outward shift of the curve
d. an inward shift of the curve.
c
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Hotelling's model has been used to describe differentiation in the political "market." Suppose that 100 voters are evenly distributed between the extreme left and the extreme right on the political spectrum, and that all voters vote, and they always vote for the candidate closest to them on this spectrum. The numbers on this spectrum represent the number of voters lying to the left of the number. So, at the midpoint, fifty voters lie to the left and fifty to the right. At the extreme right end, all 100 voters lie to the left. 
width="553" />If Candidate Y is running against Candidate Z: A. Neither candidate has any incentive to move. B. Both candidates will have an incentive to move to the left. C. Candidate Y will have an incentive to move to the left, and Candidate Z will have an incentive to move to the right. D. Both candidates will have an incentive to move toward each other's position.
According to the theory of demand,
a. a change in the consumer’s income or wealth changes the entire demand relationship b. the consumer’s willingness to pay is also called the demand price c. demand price measures the marginal benefit (MB) of consuming another unit of the good d. a change in product price changes quantity demanded e. all of the above
A period in which real GDP in the economy declines for at least six months is referred to as
A) a recession. B) living standards. C) long term growth. D) a positive fluctuation.
When Chile experiences investment from abroad, it experiences, as a result,
a. an increase in productivity. b. a decrease in Gross National Product (GNP). c. lower wages for Chilean workers. d. None of the above is correct.