The sustained expansion of production possibilities is called
A) opportunity cost of growth.
B) production possibilities.
C) economic growth.
D) economic investment.
E) production expansion.
C
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How does the federal government finance a budget deficit?
A) It borrows funds by selling Treasury bonds. B) It cuts spending on entitlement programs. C) It redeems its IOUs. D) It purchases U.S. Treasury bonds.
Refer to the above table. Suppose the price of Y rises from $18 to $20. What is the cross price elasticity of demand between X and Y?
A) -2 B) -1 C) 0 D) +1
Net exports equal:
A. exports minus imports. B. exports minus depreciation. C. exports plus imports. D. the value added of exports.
The ________ approach to exchange rates emphasizes the importance of the supply and demand for money as a key to understanding the determinants of exchange rates.
A. monetary B. asset market C. balance of payments D. purchasing power parity