Refer to Exhibit 2-3. If PPF1 is the relevant production possibilities frontier, society may move to PPF2 as a result of

Explain why it may be advantageous to have technological change explained by, rather than outside of, a growth model

What will be an ideal response?

Answer the following questions true (T) or false (F)

1. Eliminating structural unemployment would be good for the economy. 2. The full-employment rate of unemployment is zero. 3. The unemployment rate in the United States is typically lower than in Western Europe because the United States has tougher requirements for the unemployed to receive government payments.