An inefficient allocation of resources or unusually high unemployment:
a. causes the production possibilities curve to shift inward
b. causes the production possibilities curve to shift outward.
c. can each be illustrated by a point inside the production possibilities curve.
d. can each be illustrated by a point outside the production possibilities curve.
c
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Country A's income per capita is higher than that of Country B. Country A is likely to have ________
A) a higher life expectancy at birth B) a lower life expectancy at birth C) a higher exchange rate D) a higher unemployment rate
A college education can be a signal because
A) a college education is expensive. B) those who graduate college have successful parents, and are therefore also likely to be successful. C) highly capable people are more likely to finish college than those with low capabilities. D) college teaches useful skills and gives valuable training.
Which one of the following could account for an increase in the market clearing price of iPads?
A) a decrease in demand for iPads B) an increase in supply of iPads C) an increase in supply along with a decrease in demand D) an increase in demand along with a decrease in supply
If a country's real GDP is growing at 5 percent and the population is also growing at 5 percent, its:
a. per capita real GDP grows at an increasing rate. b. per capita real GDP grows at a constant rate. c. population growth will eventually exceed real GDP. d. per capita real GDP decreases at a constant rate. e. per capita real GDP does not change.