An outward shift of a nation's production possibilities frontier can occur due to
A) a natural disaster like a hurricane or bad earthquake.
B) a change in the amounts of one good desired.
C) an increase in the labor force.
D) a reduction in unemployment.
C
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All of the following are listed in the text as being keys to economic development EXCEPT
A) a system of property rights. B) an open economy. C) an educated population. D) a higher level of protectionism.
Net foreign factor income is ________.
A. the income people in a country receive from resources owned in foreign countries B. the income people in foreign countries receive from resources owned domestically C. the difference between the values of a country's exports and imports D. the difference between the income people in a country receive from resources owned in foreign countries and the income people in foreign countries receive from resources owned domestically