Economic growth can be pictured in a production possibilities curve diagram by
A) shifting the production possibilities curve in.
B) shifting the production possibilities curve out.
C) making the production possibilities curve straighter.
D) moving from a point inside the production possibilities curve to a point on the curve.
Answer: B
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According to the functional distribution of income, in the United States,
A) capital earns most of the income. B) the income earned by capital and labor are approximately equal. C) labor earns most of the income. D) land earns most of the income. E) entrepreneurs earn most of the income.
How could an expansionary fiscal policy increase real GDP and lower the price level?
A) if the aggregate supply increases equals the aggregate demand increase B) if aggregate supply decreases more than aggregate demand increases C) if aggregate supply increases more than aggregate demand increases D) if aggregate supply decreases less than aggregate demand decreases E) if aggregate supply decreases more than aggregate demand decreases