Economic growth is represented by a:
a. rightward shift of the rule of 72 curve
b. movement along a production possibilities curve.
c. rightward shift in potential real GDP (LRAS).
d. leftward shift of the long-run aggregate supply curve (LRAS).
c
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From the standpoint of a soft drink company the question of "What goods and services should be produced?" is best represented by which of the following decisions?
A) whether or not to hire additional workers B) whether or not to increase its advertising C) whether or not to shut down selected manufacturing facilities D) None of the above are examples.
Most cartels self-destruct because cartel members cheat
Indicate whether the statement is true or false
Place point Y on the graph to indicate a deep depression.
Reading Consumer Reports before buying a used car:
A. helps buyers increase their chances of avoiding a lemon, or low-quality car. B. does not help buyers because magazines only cover new car sales, not used car sales. C. makes warranties on used cars unnecessary. D. is irrational because the cost of the magazine is greater than the benefit of the information.