Which of the following factors of production is likely to be most productive?
a. A certified doctor working in a well-equipped hospital
b. A medical student working as a volunteer in a rural health clinic
c. A trained nurse without access to the latest medical technology
d. A knowledgeable chemist without a degree in medical sciences
e. A specialist doctor working in a hospital with poor infrastructure
a
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Considering a PPF with health care services on the vertical axis and other goods and services on the horizontal axis, the increasing production of health care services in the United States as a result of the aging population represents
A) a movement upward along the PPF. B) an outward shift of the PPF from the vertical axis. C) an outward shift of the PPF from the horizontal axis. D) a movement downward along the PPF.
In the above figure, the economy is initially at point B. If the exchange rate falls, there is
A) a movement to point C. B) a movement to point A. C) a shift to AD2. D) a shift to AD1.