According to the production possibilities model, if more resources are allocated to the production of physical and human capital, then all of the following are likely to happen except
A) fewer goods will be produced for consumption today.
B) the production possibilities frontier will be shift outward in the future.
C) future economic growth is enhanced.
D) the country's total production will fall.
Answer: D
Economics
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The marginal rate of substitution measures the slope of the:
a. total utility curve. b. demand curve. c. budget line. d. indifference curve.
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The distribution of world income is
a. equalizing rapidly. b. very unequal. c. very equal for countries in the Northern Hemisphere. d. very equal for countries in Europe.
Economics