In the above figure, in order for this country to move from production possibilities frontier PPF1 to PPF2, it might
A) increase the skills and productivity of its work force.
B) put all unemployed resources to work producing desired output.
C) engage in exchange with other nations.
D) increase the average level of prices for all goods produced and consumed.
A
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The U.S. Census Bureau estimates the number of illegal immigrants by subtracting the:
A. Sum of the past annual flows of legal immigrants from the past annual inflows of all immigrants B. Current number of legal immigrants from the current total number of all immigrants C. Current of legal immigrants from the past annual inflows of all immigrants D. Sum of the past annual flows of legal immigrants from the current total number of all immigrants
Imagine that a firm expands the size of its plant, doubling its total cost of production but more than doubling its output. This situation is known as
A. a violation of the law of diminishing returns. B. economies of scale. C. constant returns to scale. D. diseconomies of scale.
A perfect price discriminator
A) charges the maximum price for each unit that consumers are willing to pay. B) is able to convince consumers to pay more for each unit than they are willing to pay. C) is unable to make an economic profit. D) disregards the market demand curve.
In a given year, a country's GDP = $3843, net factor payments from abroad = $191, taxes = $893, transfers received from the government = $422, interest payments on the government's debt = $366, consumption = $3661, and government purchases = $338
Calculate the values of private saving, government saving, and national saving.