In a certain economy, jam and bread are produced, and the economy currently operates on its production possibilities frontier. Which of the following events would allow the economy to produce more jam and more bread, relative to the quantities of those goods that are being produced now?
a. Unemployed labor is put to work producing jam and bread.
b. The economy puts its idle capital to work producing jam and bread.
c. The economy experiences economic growth.
d. All of the above are correct.
c
Economics
You might also like to view...
A negative externality is
A) a cost realized by the producer of a good or service. B) anything that is external or not relevant to the production of a good or service. C) a cost paid for by the consumer of a good or service. D) a by-product of an activity that hurts someone who is not involved in that activity.
Economics
If a firm has market power in the output market but buys labor in a competitive market, it will hire the same quantity of labor that a competitive firm will
Indicate whether the statement is true or false
Economics