A. an advance in technology
B. an increase in the labor force
C. an increase in the capital stock
D. a reduction in unemployment
Related Mcqs:
- If a country has a liner (downward sloping) production possibilities frontier, then production is said to be subjected to ?
A. constant opportunity costs
B. decreasing opportunity costs
C. first increasing and then decreasing opportunity costs
D. increasing opportunity costs - An outward shift of the production possibility frontier may be caused by ?
A. An increase in demand
B. More government spending
C. Better training of employees
D. Productive inefficiency - Points on the production possibilities frontier are ?
A. inefficient
B. normative
C. unattainable
D. efficient - If a country has a bowed out (concave to the origin) production possibility frontier then production is said to be subject to ?
A. constant opportunity costs
B. decreasing opportunity costs
C. first increasing and then decreasing opportunity costs
D. increasing opportunity costs - Economic growth can be seen by an outward shift of ?
A. The Production Possibility Frontier
B. The Gross Domestic Barrier
C. The Marginal Consumption Frontier
D. The Minimum Efficient Scale - An outward shift in the Marginal Efficiency of Capital should ?
A. Decrease consumption
B. Increase aggregate demand
C. Reduce aggregate supply
D. Slow economic growth - An outward shift in the demand for money other things being equals should lead to ?
A. A lower interest rate but the same quantity of money
B. A higher interest rate but the same quantity of money
C. A higher quantity of money but lower interest rates
D. A higher quantity of money but the same interest rate - If Hong Kong and Taiwan have identical production possibilities curves that are subject to increasing opportunity costs ?
A. Trade would depend on difference in demand conditions
B. Trade would depend on economies of large-scale production
C. Trade would depend on the use of different currencies
D. There would be no basis for gainful trade - Assume that Country A is relatively abundant in labor and Country B is relatively abundant in land Note that wages are the returns to labor and rents are the returns to land According to the factor price equalization theorem, once Country A begins specializing according to comparative advantage and trading with Country B: A. wages and rents should fall in Country A B. wages and rents should rise in Country A C. wages should rise and rents should fall in Country A D. wages should fall and rents should raise in Country A ?
XA. wages and rents should fall in Country A
B. wages and rents should rise in Country A
C. wages should rise and rents should fall in Country A
D. wages should fall and rents should raise in Country A - An upward shift in marginal cost _____ output and an upward shift in marginal revenue ______ output?
A. reduces; reduces
B. reduces; increases
C. increases; increases
D. increases; reduces
