An improvement in technology will shift the production possibilities curve
A) to the left.
B) along the curve.
C) inward.
D) to the right.
Ans: D) to the right.
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If the growth rate for GDP was 9 percent and GDP in year 1 was 100, then GDP in year 2 would be
A) 90. B) 109. C) 190. D) 199.
Checks ________ money and credit cards ________ money
A) are; are B) are not; are C) are; are not D) are not; are not
A firm's market share can be measured by
a. firm's sales/industry sales b. industry sales/firm's sales c. the concentration ratio d. the HHI e. firm's sales/firm's profits
The growth rate of real GDP equals
A) the growth rate of hours worked plus the growth rate of labor productivity. B) the growth rate of hours worked minus the growth rate of labor productivity. C) the growth rate of hours worked multiplied by the growth rate of labor productivity. D) the growth rate of hours worked divided by the growth rate of labor productivity.