The growth of total output in the United States since 1929 has been:
A. slow and steady.
B. rapid but with fluctuations.
C. rapid and smooth.
D. slow with fluctuations.
Answer: B
Economics
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If all resources were perfectly adaptable for alternative uses, the production possibilities curve would
A) be bowed out. B) be bowed in. C) be a straight line. D) not exist.
Economics
A political candidate promises voters more funding for AIDS research and child care and assures them they will not have to sacrifice any other goods or services to obtain the additional programs.
A. This may be possible if the economy has unemployed resources. B. This is possible only in a fully employed economy. C. This is possible if the economy is producing on its production possibilities curve. D. None of the choices are possible.
Economics