One source of economic growth is:
a. producing inside the production possibilities curve.
b. producing outside the production possibilities curve.
c. increasing capital.
d. discouraging profit-seeking entrepreneurs.
c
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A country undertakes a devaluation in order to
A) decrease its net exports. B) raise the value at which its currency is pegged. C) move to a flexible exchange rate system. D) increase its net exports.
When the natural unemployment rate increases,
A) both the long-run Phillips curve and the short-run Phillips curve shift leftward. B) there are no shifts of either the long-run Phillips curve or the short-run Phillips curve. C) both the long-run Phillips curve and the short-run Phillips curve shift rightward. D) the long-run Phillips curve shifts leftward, and the short-run Phillips curve shifts rightward. E) the long-run Phillips curve shifts rightward, and the short-run Phillips curve shifts leftward.