Which situation would most likely cause a nation's production possibilities curve to shift inward?
A. An increase in unemployment
B. An increase in the amount of imports
C. An increase in the number of skilled immigrant workers
D. The destruction caused by bombing and warfare in a losing military conflict
Answer: D
Economics
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The sum of AVC and AFC equals: a. total variable cost. b. economic profit
c. accounting profit. d. average total cost.
Economics
If people suddenly anticipate that inflation will rise during the next year, which of the following is most likely?
a. Nominal interest rates will rise. b. Nominal interest rates will decline. c. The demand for goods and services will decline. d. Both the real and nominal interest rates will decline.
Economics