Which of the following would shift a nation’s entire production possibilities curve outward?
a. moving from less than full employment to full employment.
b. developing a more efficient technology.
c. more efficiently allocating productive resources already available.
d. All of these.
b. developing a more efficient technology.
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From an economic perspective, a student's decision to go to the movies instead of studying for a test indicates that in the student's thinking the marginal
A. benefit of studying is greater than the marginal benefit of going to the movies. B. cost of going to the movies is less than the marginal benefit of going to the movies. C. benefit of studying is greater than the marginal cost of studying. D. cost of going to the movies is greater than the marginal cost of studying.
Private costs
A) are borne by the producers of a good or service while social costs are borne by government. B) are borne by consumers of a good while social costs are borne by government. C) are borne by producers of a good while social costs are borne by those who cannot afford to purchase the good. D) are borne by producers of a good while social costs are borne by society at large.
A pandemic causes the deaths of a large proportion of the working-age population in the country of Alpha. As a result the real wage in Alpha ________ and employment in Alpha ________.
A. decrease; increase B. decrease; decrease C. increase; increase D. increase; decrease
Which statement is true?
A. Banks get a significant part of their total revenue from interest on their primary reserves. B. Banks try to carry as much in excess reserves as they possibly can. C. Only a small fraction of the nation's banks are subject to the reserve requirements of the Federal Reserve. D. The banks have received interest on their reserves since October, 2008.