Opening trade between two nations would
a. shift their production possibilities curves outward.
b. shift their production possibilities curves inward.
c. leave the production possibilities unchanged and increase their consumption possibilities.
d. leave the production possibilities unchanged and decreased their consumption possibilities.
C
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Use the graph below to answer the next question.
Other things equal, an increase the aging population in the United States would do what to the demand for nurses?
A. shift from D3 to D2 B. shift from D2 to D3 C. move from b to a on D1 D. move from a to b on D1
Suppose that the price of capital falls. Does this necessarily imply that the demand for laborwill fall? Explain
What will be an ideal response?
If only current income is considered, beer taxes are _____. If lifetime income is considered, however, beer taxes are _____
a. regressive; progressive b. regressive; proportional c. progressive; regressive d. proportional; progressive
The ______________ is the amount by which one input can be reduced when one more unit of another input is added while holding the output constant.
Fill in the blank(s) with the appropriate word(s).