Economic growth causes:
A. a movement away from the production possibility curve.
B. the production possibility curve to shift in.
C. the production possibility curve to shift out.
D. a movement toward the production possibility curve.
Answer: C
You might also like to view...
U.S. and European immigration policies are best described as welcoming:
a. all foreign workers. b. foreign workers in most industries. c. foreign workers in select industries. d. no foreign workers.
"A good business decision maker will never sell a product for less than it costs to produce." This statement is
a. true because diminishing returns always cause marginal costs to rise in the short run. b. false because diminishing returns always cause fixed costs to rise in the short run. c. true because it clearly differentiates between accounting profit and economic profit. d. false because a business decision maker may be covering his current variable costs even though he has failed to cover all previous production costs.