The production possibility frontier shows the maximum output a nation can produce with available resources.
Answer the following statement true (T) or false (F)
True
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To eliminate a recessionary gap, what fiscal policy should the government pursue?
What will be an ideal response?
How are skilled and unskilled workers in an economy likely to be affected if firms adopt skill-biased technologies?
What will be an ideal response?
Technical and "junior" colleges offering full-time degree programs that may be completed in two years or less are a rapidly growing segment of the U.S. economy. What are some likely impacts on aggregate flows into and out of employment status?
What will be an ideal response?
The cost disease of the service sector is evidenced by
A. a failure of the market mechanism. B. increased quality of public and private services. C. dramatic increases in municipal budget burdens for education, health care, and police and fire protection. D. the increased productivity in the services area.