An inward shift of the production possibilities frontier represents
A) positive economic growth.
B) negative economic growth.
C) a rise in the unemployment rate.
D) technological improvement.
Answer: B
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In a situation where an artist is selling his own work to the galleries, the agent is
a. The artist b. The gallery c. Both of the above d. None of the above
Which of the following conclusions is not supported by the Three-Sector-Model?
a. A higher GDP Price Index in a nation increases the ability and willingness of domestic businesses to supply goods and services, but it decreases consumers' willingness and ability to buy them. b. An increase in the supply of a nation's currency in the foreign exchange market lowers its international value. c. An increase in nation's demand for goods and services within the Keynesian range is often accompanied by a strong rise in the consumer price index. d. A decrease in nation's demand for goods and services within the Intermediate range usually leads to higher employment.