A devastating earthquake destroys ten percent of the population in California. As a result:
a. California's production possibility curve shifts outward
b. California moves up and to the left along its production possibilities curve.
c. California moves down and to the right along its production possibilities curve.
d. California's production possibility curve shifts inward.
d
Economics
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If cameras and film have a cross elasticity of .985, they are complements
Indicate whether the statement is true or false
Economics
If Trent's MPC is .80, this means that he will:
A. spend eight-tenths of any increase in his disposable income. B. spend eight-tenths of any level of disposable income. C. break even when his disposable income is $8,000. D. save two-tenths of any level of disposable income.
Economics