An expansion of the production possibilities frontier is
A) called economic growth.
B) proof that scarcity is not a binding constraint.
C) a free gift of nature.
D) something that has occurred only rarely in history.
A
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Which of the following will NOT result from an unsterilized intervention in which the central bank sells foreign assets to purchase domestic currency?
A) Domestic interest rates will rise. B) The foreign-exchange value of the domestic currency will rise. C) The central bank will experience a decrease in international reserves. D) The domestic money supply will rise.
The number of vehicle types available in the United States has increased dramatically over the past thirty years. Everything else equal, this would make
A) the demand for individual vehicle types to become less elastic. B) the demand for individual vehicle types to become more elastic. C) the demand for all vehicle types to become unitary elastic. D) the demand for low quality vehicle types to become less elastic.