Kiana’s country begins offering free college education to its citizens. This will most likely impact its production possibilities curve by ______.
a. causing it to spike
b. shifting it outward
c. shifting it inward
d. causing it to trend downward
b. shifting it outward
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Assuming that the United States is the domestic economy, ________ are goods and services produced by ________ and purchased by ________
A) exports; foreign countries; the United States B) exports; the United States; the United States C) imports; foreign countries; the United States D) imports; foreign countries; foreign countries
Assume the capital-labor ratio remains constant. If investment increases at a constant rate, real GDP per worker will increase ________, and if total factor productivity increases at a constant rate, real GDP per worker will increase ________
A) at an increasing rate; at an increasing rate B) at a constant rate; at an increasing rate C) at a constant rate; at a decreasing rate D) at a decreasing rate; at a constant rate
The use of money as a medium of exchange requires a double coincidence of want
a. True b. False Indicate whether the statement is true or false
Emission controls on automobiles are an example of a
a. corrective tax. b. command-and-control policy to increase social efficiency. c. policy that reduces pollution by allocating resources through market mechanisms. d. policy to reduce congestion on urban freeways.