The United States uses tax funds to build and repair the interstate highway system and to provide health care services via Medicare. Suppose Medicare services are on the horizontal axis and highway miles are on the vertical axis of a PPF
If the government decides to reduce funding to Medicare, this change would be shown as A) a shift out of the PPF.
B) the PPF becoming flatter.
C) a movement down along the PPF.
D) a movement up along the PPF.
D
Economics
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The average product of labor is equal to
A) total product divided by quantity of labor. B) change in total product divided by quantity of labor. C) total product divided by change in quantity of labor. D) change in total product divided by change in quantity of labor.
Economics
Describe the events “Squaring the Economic Circle” and explain how they illustrate the multiplier.
What will be an ideal response?
Economics