Refer to the graph below. An expansion of the economy's production possibilities can, by itself:
A. Never cause inflation
B. Never cause price level to fall
C. Cause a decrease in real output
D. Cause a decrease in employment level
A. Never cause inflation
Economics
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How is leisure counted in GDP?
A. a consumption B. as investment C. it is not counted in GDP D. as an intermediate good
Economics
Refer to Figure 2-5. If the economy is currently producing at point X, what is the opportunity cost of moving to point Y?
A) 14 million tons of steel B) 5 million tons of steel C) 5 million tons of paper D) 9 million tons of paper
Economics