Author: Anonymous

Which of the following will happen if an economy’s current output coincides with full employment, but businesses begin to notice that consumers, government, businesses, and the foreign sector do not buy all that is being produced?

The production possibilities curve model shows us what?

The production possibilities curve model shows us what?

When we described the production possibilities curve, how did we describe production that is not efficient using this model?

What does a recessionary gap indicate about the economy?

Say the Environmental Protection Agency imposes regulations on polluting and now businesses must pay to dispose of waste. Which of the following happens?

How is the opportunity cost of government spending?

Losses in jobs due to an economic downturn, or drop in consumer spending on goods and services, would cause which kind of unemployment to rise?

Losses in jobs due to an economic downturn, or drop in consumer spending on goods and services, would cause which kind of unemployment to rise?

What does this graphic tell us about the purchasing power of the average worker?