Consider a society facing the production possibilities curves in the figure shown. What is the most likely cause of a society moving from PPF1 to PPF3?
A. Better printing press technology
B. A desire to read more books
C. More workers
D. Better sewing technology
Answer: C
You might also like to view...
Which of the following statements is the best example of the term ceteris paribus?
A) An economist holds other factors constant when he examines the relationship between tax rates and tax revenues. B) More money should be spent on cleaning up the environment. C) The government budget surplus was $200 billion in 2000 because the economy was growing. D) An increase in the budget surplus after an increase in tax rates implies that tax rate increases cause budget surpluses. E) When studying the effects of a budget deficit, an economist must take account of all the factors involved.
The purchase of U.S. government bonds by Egyptians is an example of
a. U.S. imports. b. U.S. exports. c. foreign portfolio investment by Egyptians. d. foreign direct investment by Egyptians.
A monopolist will always charge the highest price it can get.
Answer the following statement true (T) or false (F)
Total cost is
A. TFC + TVC. B. AFC + AVC. C. TFC -TVC. D. TFC/TVC.