What are the factors that can cause a shift in the production possibilities curve?
Advancement in technology, improvements in labor productivity, or new sources of natural resources could lead to outward shifts of the production possibilities curve.
Economics
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A stable regular relation between income and the money stock as the medium of exchange presumes that
A) no interest is paid on the medium of exchange. B) as interest rates increase the amount of money held increases. C) as interest rates increase the amount of the medium of exchange held decreases. D) A and B.
Economics
The lowest point on a perfectly competitive firm's short-run supply curve corresponds to the minimum point on its
A. AFC curve. B. MC curve. C. AVC curve. D. ATC curve.
Economics