A shift of the production possibilities curve outward could imply that an increase in inflation expectation society has...
A shift of the production possibilities curve outward could imply that
an increase in inflation expectation
society has chosen a different set of outputs
productivity has decreases at an increasing rate
the labor productivity has grown
productivity has decline because workers are demanding more leisure
Marginal utility describes
utility gain from all consumption
extra utility for each additional good consumed
output divided by price
extra output divided by extra utility
the labor produ
Homework Answers
Answer
Option
the labor productivity has grown
the PPF is a combination of output with the potential use of the resources so an increase in productivity increases the potential use of resources that shift the PPF outwards and decrease in it shifts it inward.
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Q2
Answer
Option
extra utility for each additional good consumed
the marginal utility is a utility from extra unit of consumption of the same good.
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A shift of the production possibilities curve outward could imply that an increase in inflation expectation society has...
An economy's production possibilities curve could shift outward as a result of a(n) a) increase in...
An economy's production possibilities curve could shift outward as a result of a(n) a) increase in labor and capital b) reduction in the quantity of capital goods c) decrease in the production of goods or d) decrease in the amount of available resources?
1. Is the Phillips curve a myth? Intertemporal tradeoff between inflation and unemployment After the World...
1. Is the Phillips curve a myth? Intertemporal tradeoff between inflation and unemployment After the World War II, empirical economists noticed that, in many advanced economies, as unemployment fell, inflation tended to rise, and vice versa. The inverse relationship between unemployment and Inflation, was depicted as the Phillips curve, after William Phillips of the London School of Economics. In the 1950s and 1960s, the Phillips curve convinced many policy makers that they could use the relationship to pick acceptable levels...
1. Is the Phillips curve a myth? Intertemporal tradeoff between inflation and unemployment After the World War II, empirical economists noticed that, in many advanced economies, as unemployment fell, inflation tended to rise, and vice versa. The inverse relationship between unemployment and Inflation, was depicted as the Phillips curve, after William Phillips of the London School of Economics. In the 1950s and 1960s, the Phillips curve convinced many policy makers that they could use the relationship to pick acceptable levels...
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