Economic growth always results in:
A. An expansion of production possibilities.
B. A change in how goods are distributed.
C. A movement along the production possibilities curve.
D. Higher prices.
Ans: A. An expansion of production possibilities.
Economics
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Over the last 50 years, has the ratio of household production to gross domestic product in the United States increased or decreased? Consider the effect of the increased number of women working outside the home, and the effect of advances in
technology in household production such as microwaves, coffee makers, power tools, etc.
Economics
To an economist, the word 'marginal' means:
A) total. B) average. C) next or additional. D) sunk. E) none of these choices.
Economics