Referring to a production possibilities curve and the goods being compared, depict the economic event. The SARS epidemic spreads rapidly throughout Toronto, Canada claiming millions of lives (capital vs. consumer goods).
A. A movement from a point inside the curve to a point on the curve
B. A movement from a point on the curve to a point inside the curve
C. A shift in the entire curve to the right (outward)
D. A shift in the entire curve to the left (inward)
D. A shift in the entire curve to the left (inward)
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"Privatization of government owned industries is a more desirable way to operate an economy" is a ________ statement about ________ policy.
A. normative; monetary B. positive; structural C. normative; structural D. positive; fiscal
The unemployment rate in the United States is typically lower than in Western Europe because the United States has tougher requirements for the unemployed to receive government payments
Indicate whether the statement is true or false
The growth rate of real GDP is best represented as
A) (Contribution from capital) + (Contribution from labor) + (Contribution from total factor productivity) B) (Contribution from capital + Contribution from labor) / (Contribution from total factor productivity) C) (Contribution from total factor productivity) / (Contribution from capital + Contribution from labor) D) (Contribution from capital) × (Contribution from labor) × (Contribution from total factor productivity)
The exchange rate affects the trade in goods and services between California and NewYork
a. True b. False Indicate whether the statement is true or false