Which one of the following will cause the production possibilities curve to shift outward?
a. improved public education
b. improved health care systems
c. larger budgets for research, development, and exploration
d. all of the above
d
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The poverty threshold line for a family of four in 2010 was
a. $30,170. b. about $22,000. c. between $10,000 and $15,000. d. less than $10,000.
In general, a society will benefit more, the more self-sufficient it is
a. True b. False
A genuine progress indicator (GPI) attempts to:
A. adjust GDP so that it reflects more than just the level of economic activity. B. develop a new measure that focuses entirely on noneconomic activity. C. adjust GDP so that it more accurately measures changes in economic activity. D. not incorporate any measure of economic activity.
A firm is currently operating where the MC of the last unit produced = $84, and the MR of this unit = $70. What would you advise this firm to do?
A. Shut down. B. Increase output. C. Stay at its current output. D. Decrease output.