Suppose that an economy can produce various combinations of fish and bread. If more people with strong fishing skills became employed in this economy, how would the production possibilities curve (PPC) change?
a. The PPC would shift outward on the fish axis, but would not change on the bread axis.
b. The PPC would shift outward equally along both the fish and the bread axes.
c. The PPC would shift inward on the bread axis, but would not change on the fish axis.
d. The PPC would shift inward equally along both the fish and the bread axes.
a
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A demand schedule is a table showing how the ____ of some product during a specified period of time changes as ____ changes, holding all other determinants of quantity demanded constant.
A. demand; the price of its complement B. demand; the quantity supplied C. quantity demanded; the price of its substitute D. quantity demanded; the price of that product
Elaborate on the statement "Every multiple regression analysis is influenced by the sample of the data used."
What will be an ideal response?
The benefits-received principle of taxation is most evident in:
a. progressive tax rates. b. excise taxes on gasoline. c. the personal income tax. d. the corporate income tax.
In a Bertrand model, market power is a function of
A) marginal cost. B) the number of firms. C) price elasticity of supply. D) product differentiation.