If an economy's institutional production possibilities frontier (institutional PPF) shifts rightward, the economy's
A) natural unemployment rate rises.
B) natural unemployment rate falls.
C) Natural Real GDP declines.
D) physical PPF shifts leftward.
E) physical PPF shifts rightward.
B
Economics
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If the absolute price elasticity of demand for good X is 0.5, when there is a 10 percent increase in price, we can conclude that quantity demanded
A) has fallen by 50 percent. B) has fallen by 20 percent. C) has fallen by 10 percent. D) has fallen by 5 percent.
Economics
Distinguish the laws of demand and supply. How are the laws of demand and supply illustrated graphically?
What will be an ideal response?
Economics