All of the following could immediately or eventually lead to an inward shift of a nation's production possibilities curve, except:
A. emigration of skilled workers to other nations.
B. a decline in the birth rate.
C. an increase in the average skill level of all occupational groups.
D. depletion and reduced availability of major energy resources.
Answer: C
Economics
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Using the equation of exchange, if the nominal GDP is $8,000 billion and the money supply is $1,600 billion, then
A) the price level is 5.0. B) the price level is 0.2. C) velocity is 5.0. D) velocity is 0.2.
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The simplest money-creation multiplier is equal to
A) eD. B) H/e. C) 1/e. D) e/H. E) H/D.
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