Economic growth shifts a society's production possibility frontier away from the origin.
Answer the following statement true (T) or false (F)
True
You might also like to view...
A man can rewire a house in 12 hours and can panel a room in 15 hours, and his teenage son can rewire a house in 18 hours and can panel a room in 16 hours. Who is more efficient in rewiring a house, and who is more efficient in paneling a room?
a. The father is more efficient at both activities. b. The father is more efficient at rewiring a house, and the son is more efficient at paneling a room. c. The father is more efficient at paneling a room, and the son is more efficient at rewiring a house. d. The two are equally efficient at both activities.
If a company pays a dividend of $2 to be received one year from now, dividends are expected to grow at a rate of 3 percent per year for the indefinite future, and the interest rate is 4 percent, the price of the company's stock should be ________ per
share. A) $3.40 B) $28.57 C) $200.00 D) $340.00
Suppose an American worker can make 20 pairs of shoes or grow 100 apples per day. On the other hand, a Canadian worker can produce 10 pairs of shoes or grow 20 apples per day. The opportunity cost of a pair of shoes is __________ for the United States than Canada, so Canada has the ______________ advantage in shoe production.
A. higher; comparative B. lower; comparative C. higher; absolute D. lower; absolute
In the short run, expansionary monetary policy ________ real gross domestic product (GDP), ________ unemployment, and ________ the price level.
A) raises; lowers; raises B) raises; raises; raises C) lowers; lowers; raises D) lowers; lowers; lowers E) raises; lowers; lowers