What are the two major ways in which an economy can grow and push out its production
Question:
What are the two major ways in which an economy can grow and push out its production possibilities curve?
a. Better weather and nicer cars.
b. Higher taxes and lower spending.
c. Increases in resource supplies and advances in technology.
d. Decreases in scarcity and advances in auditing.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 68% (22 reviews)
The economy produces output from resourc e inputs like land labor a...View the full answer
Answered By
Ajeet Singh
Professional, Experienced, and Expert tutor who will provide speedy and to-the-point solutions.
I have been teaching students for 5 years now in different subjects and it's truly been one of the most rewarding experiences of my life.
I have also done one-to-one tutoring with 100+ students and help them achieve great subject knowledge.
I have expertise in computer subjects like C++, C, Java, and Python programming and other computer Science related fields.
Many of my student's parents message me that your lessons improved their children's grades and this is the best only thing you want as a teacher. I have done plenty of studying and lots of learning on many exciting and challenging topics. All these experiences have influenced my decision to take on the teaching role in various capacities. As a tutor, I am looking forward to getting to understand your needs and helping you achieve your academic goals. I'm highly flexible and contactable. I am available to work on short notice since I only prefer to work with very small and select groups of students.
4.90+
7+ Reviews
15+ Question Solved
Related Book For
Microeconomics Principles, Problems and Policies
ISBN: 978-1259450242
20th edition
Authors: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn
Question Posted:
Students also viewed these Business questions
-
What are the two major ways of computing net cash provided by operating activities? How do they differ?
-
What are the two major large-scale, high-relief topographic features on the ocean floors?
-
What are the two major objectives of materials control?
-
what is the Low velocity zone? 1. elsic 2. Mafic 3. Partially melted rock 4. Crust 5. Pressure causes olivine to change to spinel 6. Physical boundary 7. core
-
What are the three components of the CIA triangle?
-
A sex-influenced trait in humans is one that affects the length of the index finger. A "short" allele is dominant in males and recessive in females. Heterozygous males have an index finger that is...
-
What advantages do residual income and EVA have over ROI for segment evaluations?
-
On January 1, 2017, Phantom Company acquires $200,000 of Spiderman Products, Inc., 9% bonds at a price of $185,589. Interest is received on January 1 of each year, and the bonds mature on January 1,...
-
In your opinion, do you think the ISSB should adopt the double materiality concept for their sustainability standards? Explain your opinion
-
Seventh Investments, Inc., began by issuing common stock for cash of $250,000. The company immediately purchased computer equipment on account for $106,000. 1. Set up the following T-accounts of...
-
Indicate whether each of the following relationships is usually a direct relationship or an inverse relationship. a. A sports team's winning percentage and attendance at its home games. b. Higher...
-
Gordons Plants has the following partial income statement for 2009: a. If Gordons has no preferred stock, what is its financial break-even point? Earnings before interest and...
-
A comparison of reaction times for two different stimuli in a psychological word-association experiment produced the accompanying results when applied to a random sample of 16 people: Do the data...
-
Identify the problem statement for Apple bites back. Next, identify what will Apple need to do to maintain product innovation and customer loyalty? How has Apple developed extreme loyalty among...
-
X Company currently makes 2,600 units of a unique part for one of its finished products. Variable production costs for this part are $12.12 per unit; fixed costs associated with this part are $16,000...
-
what is Risk Classification of data (based on sensitivity of data and likelihood for malicious purposes) - CRD (Critical Risk data), HRD (High Risk Data), and MRD (Medium Risk Data) In Uber business...
-
Write a letter to the managing director of a company explaining relevant costing and any problems of this approach.
-
After looking at this case, can you identify issues and alternatives and state major decisions to be made in this case? and after stating the problems, can you make a solution statement including the...
-
Refer to Exercise 52. a. Assume that B and W are independent random variables. Explain what this means in context. b. Calculate and interpret the standard deviation of the difference D (Bus Walk) in...
-
Chicago Company sold merchandise to a customer for $1,500 cash in a state with a 6% sales tax rate. The total amount of cash collected from the customer was $558. $600. $642. $636. Nevada Company...
-
If a monopoly has a Cobb-Douglas production function, Q = L a K b , and faces an inverse demand function of p = Q -d , what is its marginal revenue product of labor?
-
The Cobb-Douglas production function for a U.S. tobacco products firm is q = L 0.2 K 0.3 (see the Application Returns to Scale in Various Industries in Chapter 6). Derive the marginal revenue product...
-
The Cobb-Douglas production function for a U.S. tobacco products firm is q = L 0.2 K 0.3 (see the Application Returns to Scale in Various Industries in Chapter 6). Derive the marginal revenue product...
-
Suppose a hardware engineering team runs a study looking for a statistically significant correlation between using circuit A in new computers and a system failure. Suppose that the team found a...
-
Windsor Ridge Corporation was organized on January 1, 2018. During its first year, the corporation issued 46,000 shares of $5 par value preferred stock and 480,000 shares of $1 par value common...
-
Assume that production and income are below their full employment levels. In the long run we would predict that aggregate demand will rise to restore full employment without any government...
Study smarter with the SolutionInn App