An increase in growth rates will cause the production possibilities curve to
A. shift outward.
B. shift inward.
C. become steeper.
D. become flatter.
Answer: A
You might also like to view...
In a city with rent-controlled apartments, all of the following are true except
A) landlords have an incentive to rent more apartments than they would without rent control. B) apartments usually rent for rates lower than the market rate. C) it usually takes more time to find an apartment than it would without rent control. D) apartments are often in shorter supply than they would be without rent control.
Refer to Table 10-6. What is Jay's optimal consumption bundle?
A) 1 burger and 2 cans of Pepsi B) 2 burgers and 3 cans of Pepsi C) 3 burgers and 2 cans of Pepsi D) 3 burgers and 1 can of Pepsi
At a higher wage rate:
a. the opportunity cost of working increases. b. the opportunity cost of leisure increases. c. the opportunity cost of working decreases. d. the opportunity cost of leisure decreases.
Which of the following is true of the law of diminishing marginal utility?
a. The additional utility that a person receives from consuming the first unit of a good will be more than the additional utility received from consuming the fifth unit of that same good. b. The additional utility that a person receives from consuming the first unit of a good will be less than the additional utility received from consuming the fifth unit of that same good. c. The additional utility that a person receives after consuming the first unit of a good will be equal to zero. d. The additional utility that a person receives from consuming the first unit of a good will be equal to the additional utility received from consuming the fifth unit of that same good.