The role of government in shifting the production possibilities curve to the right is considered:
A) supporting economic growth.
B) redistributing income.
C) providing certain goods and services.
D) enforcing private property rights.
Ans: A) supporting economic growth.
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In the United States, income taxes are collected from two different sources: households and corporations
Indicate whether the statement is true or false
A change in which of the following can change the long-run growth rate of the economy in the Romer model?
A) investments in public infrastructure B) the national saving rate C) the fraction of the population engaged in and the productiveness of research and development D) government spending and tax rates
The largest component of output growth in the U.S. is
a. labor productivity growth. b. capital growth c. labor growth. d. knowledge growth. e. None of the above.
Suppose two Cournot duopolist firms operate at zero marginal cost. The market demand is p = a - bQ. Firm 1's best-response function is
A) q1 = (a - bq2 )/2b. B) q1 = (a - 2bq2 )/2b. C) q1 = a/b. D) q1 = a/2b.