Ceteris paribus, which of the following will most likely cause an inward shift of the production possibilities curve?
A.) A decrease in the size of the labor force.
B.) An increase in population.
C.) An increase in knowledge.
D.) An improvement in technology.
A.) A decrease in the size of the labor force.
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If a nation is a net importer it means that the:
A) nation only imports goods and services and does not export any good. B) nation only imports those goods in which it has an absolute disadvantage. C) nation's imports are worth more than exports over a given period of time. D) nation prohibits the import of goods and services that can be produced domestically.
If Tattling Tina threatens to tell, what would Bratty Brenda's best response be?
a. Hit b. Not hit c. Run d. Hide
If 10 workers will be hired by a firm at a wage rate of $15 per hour, but the 11th worker will be hired only if the wage rate falls to $14 per hour, then the marginal wage of the 11th worker is
A. $14 per hour. B. -$1 per hour. C. $154 per hour. D. $4 per hour.
Business cycles are short-term fluctuations in the economy relative to the long- term trend in ______.
a. interest rates b. inflation c. output d. employment