An increase in production possibilities is known as
A. Economic growth.
B. Factor expansion.
C. Upward mobility.
D. Predictable growth.
Answer: A
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Refer to Figure 27-7. Given that the economy has moved from A to B in the graph above, which of the following would be the appropriate fiscal policy to achieve potential GDP?
A) increase government spending B) contractionary fiscal policy C) increase taxes D) decrease interest rates
The above figure shows the market for a particular good. If the market is controlled by a perfect-price-discriminating monopoly, the deadweight loss equals
A) C + E. B) A + B + C. C) C. D) zero.
The cross-price elasticity between movie tickets and video rentals is positive
a. True b. False Indicate whether the statement is true or false
If velocity remains constant, there are three possible scenarios for the quantity theory of money and prices. Give an example for each of these scenarios.
What will be an ideal response?