With time, which one of the following strategies will most likely result in an outward shift in an economy's production possibilities curve?
a. passage of legislation reducing the workweek to 30 hours
b. institution of a tax policy encouraging research that advances technology
c. institution of a tax policy encouraging consumption at the expense of investment
d. passage of a law requiring the minimum wage to increase every year
B
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The shift of the budget line from cd to ab in the above figure is consistent with:
A) decreases in the prices of both M and N . B) an increase in the price of M and a decrease in the price of N . C) a decrease in money income. D) an increase in money income.
Bauxite is used for making aluminum. Which of the following will happen if bauxite prices fall, assuming all else equal?
A) The labor demand curve of aluminum manufacturers will shift to the right. B) The labor demand curve of aluminum manufacturers will shift to the left. C) Aluminum manufacturers will move to a higher point along their labor demand curves. D) Aluminum manufacturers will move to a lower point along their labor demand curves.