Which of the following will cause an economy to grow?
a. greater availability of resources
b. an improvement in the size of resources
c. technological declines in existing use of resources.
d. none of the above will cause an economy to grow
a
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Deadweight loss is greatest when
a. both supply and demand are relatively inelastic b. both supply and demand are relatively elastic c. supply is elastic and demand is perfectly inelastic d. demand is elastic and supply is perfectly inelastic
Assuming all else equal, if a household is pessimistic about future income, it is likely to cause a(n):
A) shift in the current credit supply curve of the household to the right. B) downward movement along the current credit supply curve of the household. C) upward movement along the current credit supply curve of the household. D) shift in the current credit supply curve of the household to the left.