Using a production possibilities curve, a technological advance that increases the amount of output for the same amount of inputs would be illustrated as a(n):
a. flattening of the curve.
b. movement from one point to another point along the curve.
c. outward shift of the curve.
d. movement from a point on the curve to a point inside the curve.
c
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The flow of capital results from the changes or differences in interest rates among countries
Indicate whether the statement is true or false
During a recession, would classical economists propose that changes in government spending or taxes be used to improve economic conditions? Briefly explain
What will be an ideal response?
The total civilian labor force is comprised of
A) the unemployed and the employed. B) only the employed. C) all individuals over 16 years of age, whether or not they work or are seeking work. D) only full-time employed individuals between the ages of 18 and 55.
If the domestic income of a nation’s citizens increase, then we might expect net export spending to:
A. increase. B. decrease. C. remain constant. D. there is not enough information to determine what would happen.