Exhibit 2-11 Production possibilities curves
In Exhibit 2-11, which of the following could have caused the production possibilities curve of an economy to shift from the one labeled A to the one labeled B?
A. A major natural disaster
B. An increase in consumption goods production this year
C. An advance in technology
D. An increase in unemployment
Answer: C
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Answer the following statement true (T) or false (F)
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A. U.S. taxation is smaller. B. U.S. taxation is about the same. C. U.S. taxation is slightly larger. D. U.S. taxation is substantially larger.
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What will be an ideal response?
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