Using a production possibilities curve, economic growth is represented by
A) an inward shift of the curve. B) an outward shift in the curve.
C) a movement along the curve. D) a pivot of the curve.
B
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If the current level of GDP exceeds full employment, the level of GDP can be reduced by
A) reducing the money supply. B) lowering interest rates. C) increasing spending. D) reducing taxes.
The United States uses tax funds to build and repair the interstate highway system and to provide health care services via Medicare. Suppose Medicare services are on the horizontal axis and highway miles are on the vertical axis of a PPF
If the government decides to reduce funding to Medicare, this change would be shown as A) a shift out of the PPF. B) the PPF becoming flatter. C) a movement down along the PPF. D) a movement up along the PPF.