Which would be least likely to cause the production possibilities curve to shift to the right?
A. an increase in the labor force
B. improved methods of production
C. an increase in the education and training of the labor force
D. a decrease in unemployment
Answer: D
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If the quantity of money is $6 billion and nominal GDP is $9 billion, the velocity of circulation is
A) 0.67. B) 1.5. C) 36. D) 54. E) 3.
Ling-Temco-Vought (LTV) is an example of
a. a conglomerate. b. a vertical merger. c. a horizontal merger. d. a limited-liability partnership.
The entry of new firms into a competitive industry will very likel
a. shift the short run industry supply curve to the right b. cause the market price to fall c. reduce the profits of firms in the industry d. cause the market quantity sold to rise e. all of the above
The substitution effect and the output effect work in the
A. same direction some of the time. B. same direction all of the time. C. opposite direction some of the time. D. opposite direction all of the time.