Ivan’s country was recently involved in a major civil war, and many of the nation’s natural resources were damaged or destroyed. How will this impact its production possibilities curve?
a. It will shift inward.
b. It will be unaltered.
c. It will shift outward.
d. It will rise, then fall.
a. It will shift inward.
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Use the following graph for a monopolistically competitive firm to answer the next question.
Point b indicates
A. the price-output combination that yields maximum profits. B. the lowest possible cost of the firm's product. C. a situation where the firm is earning economic profits. D. a point that cannot be the long-run equilibrium point.
A firm produces 60 units of output with 5 workers, 65 units with 6 workers, and 68 units with 7 workers. The firm's production function exhibits diminishing marginal productivity between 5 and 7 workers
a. True b. False Indicate whether the statement is true or false
Using Figure 1 above, if the aggregate demand curve shifts from AD2 to AD3 the result in the short run would be:
A. P1 and Y2. B. P2 and Y3. C. P3 and Y1. D. P2 and Y2.
Which of the following would not appear in the investing activities of the statement of cash flows?
A. Sale of investments B. Purchase of land C. Purchase of inventory D. All of the above would appear in the investing section of the statement of cash flows