Author Question: The ability of an economy to produce greater levels of output in the same period of time is called: ... (Read 110 times)

misspop · **on:** Jun 30, 2018

The ability of an economy to produce greater levels of output in the same period of time is called:
a. positive economics.
b. negative economics.
c. economic growth.
d. marginal productivity.

Question 2

Over time, an increase in a nation's stock of physical capital will:
a. shift the production possibilities curve inward.
b. cause an economy to operate inside its production possibilities curve.
c. shift the production possibilities curve outward.
d. eliminate the basic economic problem of scarcity.