Some agricultural sub-Saharan nations of Africa have overfarmed and overgrazed their land to the extent that significant portions of it have turned into desert. This suggests that:
A. the production possibilities curves of such nations are more bowed out from the origin.
B. the production possibilities curves of such nations have shifted inward.
C. the production possibilities curves of such nations have shifted outward.
D. these nations are operating at some point outside of their production possibilities curves.
Answer: B
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As compared to the estimates of the natural rate of unemployment for the United States, those for Europe are
A) higher. B) the same. C) lower. D) higher and more variable.
The estimated price elasticities of demand for the products listed in the table as "Product A" are from Table 6-2 in the text
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