Economic growth is represented on a production possibilities frontier model by the production possibilities frontier
A) becoming flatter. B) shifting inward. C) becoming steeper. D) shifting outward.
D
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The above figure shows the demand curve for movie rentals from Redbox. At which of the following prices is the demand unit elastic?
A) $5.00 B) $3.50 C) $2.50 D) $0.00
If nominal GDP for 2009 is $6400 billion and real GDP for 2010 is $6720 billion (in 2009 dollars), then the growth rate of real GDP is
A) 0%. B) 0.5%. C) 5%. D) 50%.
A determinant of the price elasticity of supply that is also a determinant of the price elasticity of demand is:
A. availability of inputs. B. flexibility of the production process. C. adjustment time. D. whether the good is a luxury or a necessity.
What amount of money was appropriated by Congress for fiscal stimulus bill of 2009?
a. $225 billion b. $252 billion c. $700 billion d. $787 billion