According to the production possibilities model, if more resources are allocated to the production of physical and human capital, then all of the following are likely to happen except
A) the country's total production will fall.
B) future economic growth is enhanced.
C) the production possibilities frontier will be shift outward in the future.
D) fewer goods will be produced for consumption today.
A
Economics
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Potential GDP is also referred to as
A) full-employment GDP. B) politico-economic GDP. C) realized GDP. D) balanced-budget GDP.
Economics
If average fixed cost and average variable cost are summed together, the result is: a. total revenue
b. total profit. c. total cost. d. average total cost.
Economics