Consider a production possibilities curve for an economy producing bicycles and video game players. It is possible to increase the production of bicycles without sacrificing video game players if:
a. the production possibilities curve shifts outward due to technological progress
b. the production possibilities curve shifts outward due to increased immigration (which enlarges the labor force).
c. the economy moves from a point inside the production possibilities curve to a point on the curve.
d. any of the above occur.
d
Economics
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If an economy saves 20 percent of any increase in real Gross Domestic Product (GDP), then an increase in investment of $2 billion can produce an increase in real Gross Domestic Product (GDP) of as much as
A) $2 billion. B) $10 billion. C) $0.4 billion. D) $1.6 billion.
Economics