A nation's production possibilities curve (PPC) can shift outward: (check all that apply)
a. with an increase in the quality and quantity of resources.
b. through the use of improved production techniques.
c. as a result of specialization and trade.
d. with a decrease in the employment rate.
a. with an increase in the quality and quantity of resources.
b. through the use of improved production techniques.
c. as a result of specialization and trade.
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Arguments against the balanced budget amendment include which of the following?
A) A balanced budget amendment would increase capital formation. B) A balanced budget amendment would exert fiscal discipline on the federal government. C) A balanced budget amendment would limit Congress' ability to use fiscal policy during a recession. D) A balanced budget amendment would reduce the taxation burden on future generations.
Refer to the figure above. What is the producer surplus after Barylia opens up to free trade?
A) $225 B) $550 C) $750 D) $900