Economic growth can be pictured in a production possibilities curve diagram by
A) shifting the production possibilities curve in.
B) shifting the production possibilities curve out.
C) making the production possibilities curve straighter.
D) moving from a point inside the production possibilities curve to a point on the curve.
Answer: B
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A. expansion. B. boom. C. aggregation. D. recession.
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What will be an ideal response?
When the government finances a shovel-ready project through taxes or borrowing, this will result in
What will be an ideal response?
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A. abolished tariffs among one another and established a system of common tariffs with respect to nonmember nations. B. fully integrated their economies by establishing a central bank, a common currency, and a coordinated set of governmental budgetary policies. C. agreed to trade only among one another. D. eliminated all tariffs and trade barriers with nonmember nations.