A commodity or service whose consumption by one person does not preclude others from also consuming it is called a

Refer to Figure 28-2. Suppose the economy is at point A in the figure above. Which of the following is true?

A) Actual inflation is 1%. B) The economy will move from A to B. C) The expected rate of inflation is 5.5%. D) The current unemployment rate is 3.8%. E) The current unemployment rate is equal to the natural rate of unemployment.

Any movement along an existing production possibilities curve will

a. increase the production of one good while decreasing the production of the other. b. increase the production of both goods c. increase efficiency. d. increase employment.