The production possibilities curve tells us that if full employment exists and a nation wishes to permanently increase its production of military goods, it must
A. also increase its production of nonmilitary goods.
B. reduce its output of nonmilitary goods.
C. suffer inflation.
D. suffer unemployment.
B. reduce its output of nonmilitary goods.
Economics
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Health care is generally considered a normal good. Briefly explain what you would expect to see happen to spending on health care over time, with health care being considered as a normal good
What will be an ideal response?
Economics
Which of the following is an example of a long-run adjustment?
A) Your university offers Saturday morning classes next fall. B) Ford Motor Company lays off 2,000 assembly line workers. C) A soybean farmer turns on the irrigation system after a month long dry spell. D) Walmart builds another Supercenter.
Economics