This topic contains a solution. Click here to go to the answer

Author Question: With time, which one of the following strategies would most likely result in an outward shift in the ... (Read 55 times)

future617RT

  • Hero Member
  • *****
  • Posts: 543
With time, which one of the following strategies would most likely result in an outward shift in the production possibilities curve of an economy?
 a. passage of legislation reducing the workweek to 30 hours.
  b. instituting a tax policy encouraging consumption at the expense of investment.
  c. instituting a tax policy encouraging investment at the expense of consumption.
  d. an increase in the marginal income tax rate, which would reduce the work effort of individuals.

Question 2

Which of the following statements is false?
 a. Marginal analysis is an examination of the effects of additions or subtractions from a current situation.
  b. The production possibilities curve shows the maximum combination of two outputs that an economy can produce, given its available resources and technology.
  c. Technology is the body of knowledge and skills applied to how goods are produced.
  d. Economic growth is illustrated as an inward shift of the production possibilities curve.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

mfedorka

  • Sr. Member
  • ****
  • Posts: 324
Answer to Question 1

c

Answer to Question 2

d




future617RT

  • Member
  • Posts: 543
Reply 2 on: Jun 30, 2018
:D TYSM


T4T

  • Member
  • Posts: 348
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

Did you know?

Despite claims by manufacturers, the supplement known as Ginkgo biloba was shown in a study of more than 3,000 participants to be ineffective in reducing development of dementia and Alzheimer’s disease in older people.

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

Did you know?

Aspirin may benefit 11 different cancers, including those of the colon, pancreas, lungs, prostate, breasts, and leukemia.

Did you know?

Medication errors are more common among seriously ill patients than with those with minor conditions.

Did you know?

The first oncogene was discovered in 1970 and was termed SRC (pronounced "SARK").

For a complete list of videos, visit our video library