Economic growth may be represented by a(n):
A. leftward shift of a production possibilities curve.
B. outward shift of a production possibilities curve.
C. movement along a production possibilities curve.
D. production possibilities curve that remains fixed.
Answer: B
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The table gives data for a nation. What is the amount of the country's GDP?
A) $6,000 billion B) $6,200 billion C) $6,900 billion D) $5,800 billion E) $6,600 billion
Based on Figure 6.1, given a tariff of $0.25 per bushel on soybean imports, how much will domestic production increase?
A) Domestic firms will increase output by 10 million bushels. B) Domestic firms will increase output by 20 million bushels. C) Domestic firms will increase output by 70 million bushels. D) Domestic firms' production will not be changed by the tariff.
The current Medicare system is designed so that it actually encourages
A) cost reductions. B) higher costs of medical services. C) higher costs only for surgeries. D) lower drug costs for recipients.
During what period did the greatest violence between organized labor and companies occur?
a. 1800-1820. b. 1860-1870. c. 1875-1895. d. 1910-1930.