The process through which an economy's production possibilities curve shifts outward is:
A. full-employment management.
B. investment.
C. resource renewal.
D. out-resourcing.
Answer: B
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Which of the following does not affect the marginal physical product of labor?
A. A worker’s abilities and degree of work effort B. The amount of capital available per worker C. The technical know-how of the management of the firm D. An increase in wages
In the Keynesian model, investment, government spending, and net exports are treated as autonomous expenditures, which means they are independent of:
A. expectations. B. the price level. C. political processes. D. real GDP.
If your taxable income was $50,000 and you had an average tax rate of 20 percent, how much tax did you pay?
What will be an ideal response?
A tariff is a
A) legal limit on sales of a foreign product in the domestic market. B) regulation of the quality of a foreign product sold in the domestic market. C) tax on sales of a foreign product in the domestic market. D) voluntary limit on sales of a foreign product in the domestic market.