Which of the following causes the world's production possibilities curve to shift to the right?
a. a decline in the world's population due to AIDS
b. a shift from capital goods to consumer goods production
c. a civil war in Iraq, a major world producer of oil
d. the development of a new technology that improves labor's productivity
e. a worldwide recovery from a recession
D
You might also like to view...
In both monopolistic competition and perfect competition,
A) firms sell identical products. B) there is easy entry and exit. C) firms are price takers. D) firms face horizontal demand curves. E) the marginal revenue curve and the demand curve are the same.
Which of the following is an explicit cost?
a. The opportunity cost of an owner/entrepreneur's time invested in the firm. b. The opportunity cost of the money the business owner/entrepreneur has invested in the firm. c. The wages paid to workers. d. None of the above.
Other things the same, as the price level rises, exchange rates
a. and interest rates rise. b. and interest rates fall. c. fall and interest rates rise. d. rise and interest rates fall.
good sold to final users
What will be an ideal response?