The figure above shows the production possibilities frontier for a country. In order for it to move from producing at point A to producing at point B, the country would need to
A) decrease SUV production by 1 million.
B) decrease SUV production by 3 million.
C) decrease SUV production by 4 million.
D) decrease compact car production by 3 million.
E) acquire more resources and/or more advanced technology.
A
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Refer to the table above. If Tom has a taxable income of $62,000, he faces a marginal tax rate of ________
A) 10% B) 15% C) 20% D) 30%
Which of the following statements is true?
A) Theories are statistics that describe the real world. B) Hypotheses are predictions that can be tested with data. C) Data are facts established by observation and measurement. D) Empirical evidences are facts, measurements, or statistics that describe the world.
If per capita GDP growth exceeds labor productivity growth, then: a. human capital must be increasing
b. the labor–capital ratio must be decreasing. c. employment must be growing faster than population. d. population must be growing faster than employment. e. physical capital must be increasing.
When a tax is levied on the sellers of a good, the
a. supply curve shifts upward by the amount of the tax. b. quantity demanded decreases for all conceivable prices of the good. c. quantity supplied increases for all conceivable prices of the good. d. None of the above is correct.