Which of the following will cause the production possibilities curve to shift inward?
A. An increase in knowledge.
B. A technological advance.
C. An increase in the working-age population.
D. A decrease in the size of the labor force.
Answer: D
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Total net benefits are maximized when marginal net benefits are
a. Maximized b. Minimized c. Zero d. Equal to the discount rate e. Equal to price
Nearly half of federal government research and development spending takes place in the
A. National Science Foundation. B. National Aeronautics and Space Administration (NASA). C. Department of Defense. D. Federal Office of Technology Policy.
The decrease in the price of a good would
A. cause a movement along the demand curve to a (lower price, higher quantity) point. B. cause a movement along the demand curve to a (higher price, lower quantity) point. C. move its demand curve to the left. D. move its demand curve to the right.
If Americans demand goods produced in Mexico, it leads to a demand for Mexican pesos and a supply of U.S. dollars on the foreign exchange market.
Answer the following statement true (T) or false (F)