How is economic growth shown by the production possibilities curve?
A) by shifting the curve to the right
B) by moving the curve to the left
C) by moving up the existing curve
D) by changing the shape of the curve from a straight line to one that is bowed
A
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An option that can be exercised at any time up to maturity is called
A) a swap. B) a stock option. C) an European option. D) an American option.
If the supply curve decreases while the demand curve remains unchanged, the equilibrium price would decrease
a. True b. False Indicate whether the statement is true or false
If a nation is going to achieve and sustain a high rate of economic growth, it must
a. prohibit low-wage foreign producers from supplying goods to the domestic market. b. have an abundant domestic supply of low cost energy resources. c. have a mechanism capable of attracting savings and channeling them into wealth-creating projects. d. impose regulations that will limit the intensity of competition among domestic firms.
Adam Smith asserted that a person should never attempt to make at home
a. what it will cost him more to make than to buy. b. any good in which that person does not have an absolute advantage. c. any luxury good. d. any necessity.