If new government regulations designed to protect wetlands remove very productive farmland from production, then the production possibilities frontier will shift inward
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Refer to the figure above. When the supply curve of flash drives is S2 and the demand curve of flash drives is D, what is the surplus in the market when the price is $7?
A) 0 units B) 10 units C) 20 units D) 40 units
A rise in autonomous planned investment spending causes the equilibrium level of aggregate output to ________ and shifts the ________ curve to the ________, everything else held constant
A) rise; LM; right B) rise; IS; right C) fall; IS; left D) fall; LM; left
What are the costs and benefits of foreign trade? Explain.
What will be an ideal response?
When an individual is frictionally unemployed, the unemployment arises from
A. a reduction in the overall demand for labor's skills. B. a short-term elimination of jobs because of a slowdown in business activity. C. imperfect labor market information which requires individuals to search for appropriate employment. D. the permanent elimination of jobs because of a change in the structure of the economy.