Using a production possibilities curve, economic growth is represented by
A. an inward shift of the curve.
B. a movement along the curve.
C. a pivot of the curve.
D. an outward shift in the curve.
Answer: D
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If you kept your money under your mattress rather than keeping it in a savings account at your local bank,
A. you would not incur an opportunity cost. B. the opportunity cost of such an action would be the forgone interest of not putting the money in a savings account. C. the opportunity cost of such an action would be the gas money it took to drive to the bank. D. None of the choices are true.
Using the information contained in Figure 4-7 above, the initial equilibrium Y is 3500. If there is 500 of new fiscal stimulus and a constant money supply, Y will increase to ________ and the interest rate will ________
A) 4000; remain constant B) 4000; rise to 10% C) 4500; rise to 12.5% D) 5500; remain constant
Assume the economy is experiencing an inflationary gap, Keynesian economists believe that:
a. flexible wages will restore full employment. b. the Federal Reserve should lower the interest rate. c. the federal government should decrease spending to shift the aggregate demand curve leftward. d. the federal government should increase spending to shift the aggregate demand curve rightward.
The general approaches to global poverty reduction include all of the following except
A. Within-nation redistribution of income. B. Government growth. C. Economic growth. D. Across-nation redistribution of income.