If the general education level within a country rises significantly over time, it is likely that:
a. the country will move to a different point along its current production possibilities curve.
b. the country's production possibilities curve will not change in any way.
c. the country's production possibilities curve will shift in.
d. the country's production possibilities curve will shift out.
e. the country's production possibilities curve will become convex to the origin.
d
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Income in kind is defined as
A) income received in the form of a paycheck. B) payment for services in the form of cash. C) tips. D) income received in the form of goods and services.
One reason the public debt will not bankrupt the federal government is that the:
A. burden of the debt will be crowded out by new investment. B. debt can be refinanced by selling new bonds. C. cost is shifted to future generations. D. debt has a procyclical effect on the economy.