Which of the following would shift a nation's production possibilities frontier outward?
A) discovering a cheaper way to convert sunshine into electricity
B) an increase in demand for the nation's products
C) a decrease in the unemployment rate
D) a law requiring workers to retire at age 50
Answer: A
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If the market clearing price of computer tablets rises from $400 to $600, and the market clearing output decreases from 5 million to 4 million units,
A) demand decreased and supply remained unchanged. B) supply increased and demand remained unchanged. C) demand increased and supply remained unchanged. D) supply decreased and demand remained unchanged.
The first official statement of goals for macroeconomic performance in the United States came with the passage of the
A) Federal Reserve Act of 1913. B) Employment Act of 1946. C) Great Depression Act of 1933. D) Full Employment and Balanced Growth Act of 1978.