Which of the following would not lead to a shift in an economy's production possibilities curve?
a. Change in technology.
b. Change in the number of resources.
c. An earthquake.
d. Improvement in the education level.
e. Change in the composition of current output.
e
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According to this Application, the decrease in consumer wealth due to decreases in the value of home equity has
A) decreased consumer spending. B) decreased the marginal propensity to save. C) increased short-run aggregate supply. D) increased consumer saving.
Explain how the volunteer's dilemma is a special case of the public goods problem in which the possibility exists that no one will end up providing the public good
What will be an ideal response?
Business cycles ________, and recessions ________
A) are of equal length; are of equal severity B) are of equal length; differ in severity C) vary in length; are of equal severity D) vary in length; differ in severity
What are the different types of auctions based on how people place their bids?
What will be an ideal response?