Economic growth can be portrayed as a(n)

A. movement from a point on to a point inside a production possibilities frontier.
B. outward shift of the production possibilities frontier.
C. movement from one point to another point on a fixed production possibilities frontier.
D. inward shift of the production possibilities frontier.


Answer: B

Economics

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If the Mexican government wants to keep the peso overvalued against the dollar, it will need to:

A) sell both dollars and pesos. B) buy both dollars and pesos. C) sell pesos and buy dollars. D) buy pesos and sell dollars.

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In monopolistic competition, firms sell a differentiated product. In perfect competition, firms sell an identical product. How do these markets differ as a result?

What will be an ideal response?

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What are the consequences of price discrimination for the producer, the consumer, and for society?

What will be an ideal response?

Economics

Refer to Exhibit 2-8. Who has the comparative advantage in the production of good X?

Economics