Technological change
A) generates economic growth.
B) shifts the PPF leftward.
C) creates inefficiency.
D) Both answers A and C are correct.
A
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GDP accounts systematically ignore
A) non-market production. B) illegal and underground production. C) barter trades. D) the market value of services provided by illegal aliens. E) all of the above.
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If a firm shuts down in the short run, its losses are equal to
a. TC ? TR. b. TFC. c. TVC. d. MC.
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