An assumption of the production possibilities frontier model is that technology is fixed
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following statements is FALSE?
A) Saving helps create economic growth. B) Economic freedom requires property rights. C) Free international trade helps create economic growth. D) Improvements in quality of education are important for economic growth. E) Faster population growth is the key to growth in real GDP per person.
In the above figure, in order for the equilibrium price to remain constant while the equilibrium quantity increases, the
A) supply and demand curves both would have to shift leftward. B) supply curve would have to shift leftward and the demand curve would have to shift rightward. C) supply curve would have to shift rightward and the demand curve would have to shift leftward. D) supply and demand curves both would have to shift rightward.