What determines the position and shape of a society's production possibilities frontier?
a. the physical resources of that society
b. the skills of the workforce
c. the level of technology of the society
d. the amount of factories in the society
e. All of the above are correct.
e
Economics
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In the Baumol model, a change in fixed costs will
A) increase total quantity sold. B) have no effect on total quantity sold. C) decrease total quantity sold. D) have an effect on total quantity sold.
Economics
Between 1820 and 1860, in the U.S.,
a. real wages rose. b. unskilled workers' earnings fell relative to skilled workers' earnings. c. fertility rates fell. d. the number of self-employed workers fell. e. All of the above.
Economics