Refer to the information provided in Figure 2.6 below to answer the question(s) that follow.
Figure 2.6Refer to Figure 2.6. Which of the following is most likely to shift the production possibility frontier from ppf2 to ppf1?
A. the purchase of government Treasury bills
B. a change in consumer tastes
C. a decrease in the general educational level of the population
D. moving resources from consumer goods to capital goods
Answer: C
Economics
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Use the above table. Assuming constant opportunity costs, if countries Alpha and Beta specialize based on comparative advantage, then they will trade if the rate of exchange is
A) 5 knives for 1 fork, and Alpha imports forks. B) 0.5 knives for 1 fork, and Alpha imports forks. C) 0.5 fork for 1 knife, and Beta imports knives. D) 6 forks for 1 knife, and Beta imports knives.
Economics
Technological change in modern societies is most likely the result of increases in
a. machine building. b. more natural resource use. c. education. d. the labor force.
Economics