A nation's current location on its production possibilities curve can determine the future location of that nation's production possibilities curve
a. True
b. False
Indicate whether the statement is true or false
True
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When Keisha receives a flu vaccination, the additional benefit enjoyed by Keisha's friends is the
A) marginal private benefit. B) marginal external benefit. C) marginal social benefit. D) private benefit. E) marginal private cost.
When potential GDP increases, is it necessarily the case that real GDP increases as well? Explain
What will be an ideal response?
Economies of scale are often confused with
A) market demand curves. B) long-run average fixed cost curves. C) short-run average total cost curves. D) learning curves.
Ceteris paribus, when households spend less but do not supply of all their additional saving to the loanable funds market,
a. total spending will exceed below total income, satisfying Say's law. b. total spending will drop below total income, violating Say's law. c. total spending will drop below total income, thereby satisfying Say's law. d. total spending will equal total income, violating Say's law. e. this will contribute to an economic expansion.