The PPF shifts if
A) the unemployment rate falls.
B) people decide they want more of one good and less of another.
C) the prices of the goods and services produced rise.
D) the resources available to the nation change.
D
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The slope of a typical isoquant is negative because to produce a given output, a producer
A) can use less of one input only if the productivity of that input increases B) will use more of one input only if the price of that input falls. C) will use more of one input only if it uses more of another. D) can use less of one input only if it uses more of another.
A positive spending shock ________ real interest rates and ________ output in the short run, thereby its effect on stock prices is ________
A) raises; lowers; positive B) raises; raises; ambiguous C) lowers; raises; negative D) lowers; raises; positive