Economic growth is represented by a:
A. leftward shift of a production possibilities curve.
B. rightward shift of the long-run aggregate supply curve (LRAS).
C. horizontal long-run aggregate supply curve (LRAS).
D. downward shift of an aggregate production function.
Answer: B
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During a period of hyperinflation, as households and firms avoid holding money,
A) potential GDP increases. B) long term savings accounts become more popular. C) barter becomes more common. D) the costs of inflation decrease. E) capital investment increases.
Discounting or computing present value is a way of comparing dollar values that will appear at different points in time
a. True b. False Indicate whether the statement is true or false
Monoploy
What will be an ideal response?
An example of a good that is rival in consumption is:
A. a radio program. B. a copy of an economics textbook. C. an economics web page. D. a lighthouse.