On a PPF with two products, health care and housing, what would occur in a stagnant economy if health care output increased?
A. Housing would increase.
B. Deflation would occur.
C. Housing would decrease.
D. The stagnation would end.
Answer: C
Economics
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Which of the following is not a valid criticism of Fogel's (1964) methodology in his study of railroads?
(a) The canal prices used for 1890 were low. (b) The impact of railroads on financial markets is ignored. (c) The nonpecuniary gains from using railroads could have been considered. (d) The amount of land cultivated would have been reduced.
Economics
The clearest sign of economic growth is a(n)
a. increase in nominal GDP. b. increase in real GDP. c. decrease in nominal GDP. d. increase in nominal GDP.
Economics