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 PPF2?
A. More workers
B. Better sewing technology
C. Better printing press technology
D. A desire to read more books
Answer: C
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An increase in unplanned inventory investment for the entire economy equals the excess of
A) output over aggregate supply. B) output over aggregate demand. C) aggregate supply over output. D) aggregate demand over output.
The National Banking System under the Bank Act of 1863 created a banking system comprised of a mixture of
(a) special state charters. (b) nonchartered private banks. (c) free banks. (d) all of the above.
Double-entry bookkeeping is a system of accounting in which:
a. it is ideal for credits to be greater than debits. b. it is ideal for debits to be greater than credits. c. each transaction is recorded in the same account twice. d. only foreign and domestic accounts are used. e. the debit total must equal the credit total for the transactions as a whole.
Most spells of unemployment are short, and most unemployment observed at any given time is short-term
a. True b. False Indicate whether the statement is true or false