During periods of unemployment
A. the production possibilities curve shifts inward.
B. the economy operates at a point outside the production possibilities curve.
C. the economy operates at a point inside the production possibilities curve.
D. the production possibilities curve shifts outward.
Answer: C
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According to the quantity theory of money, an increase in the stock of precious metals or bills of exchange usually results in increased trade and rising prices. Both economic events helped merchant capitalists and the king
Indicate whether the statement is true or false
A monopolist faces a demand curve that
A) is perfectly horizontal at the market price. B) is below the marginal revenue curve. C) is downward sloping. D) coincides with the industry supply.
The basic principle that explains the demand for a factor of production is the
a. principle of marginal productivity. b. Hotelling principle. c. principle of opportunity cost. d. Ramsey pricing principle.
inflation caused by an increase in the per-unit production costs at each level of total spending
What will be an ideal response?