If we are currently at point T, we can get to point S in the long run
A. through economic growth over a period of years.
B. immediately by using resources more efficiently.
C. immediately by reducing the unemployment rate.
D. immediately through technological development.
A. through economic growth over a period of years.
You might also like to view...
Refer to the above figure. A movement from B to D would be a result of
A) an increase in the quantity of money in circulation. B) an increase in the marginal income tax rate. C) an increase in labor productivity. D) an increase in government expenditures.
Suppose that a tariff is imposed on imported cheese. This will have the effect of __________ the quantity consumed of cheese, __________ consumers' surplus, and __________ the government's tariff revenues
A) increasing; increasing; increasing B) decreasing; decreasing; increasing C) increasing; decreasing; decreasing D) decreasing; increasing; increasing E) decreasing; increasing; decreasing