QUESTION 27 Which of the following would not shift the production possibilities

Question

QUESTION 27 Which of the following would not shift the production possibilities frontier? a. A decrease in the size of the labor force b. A war that destroyed many buildings c. A technological improvement that improved the fuel efficiency of cars d. A change to a more inefficient production process e. An increase in capital stock QUESTION 28 Human capital represents: a the ratio of capital to labor b. the equipment that labor uses on-the-job to improve labor productivity. c. the technology developed by humans that is embodied in equipment. d. the education, skill, and training embodied in workers. e. the social institutions created by people which promote the accumulation of equipment for production. QUESTION 29 Banks differ from other types of businesses because banks: a can go out of business. b. earn profits. c. can create money d. combine economic resources to produce services. e are regulated by the government. to suve al Click Save and Submit to save and submit. Cick Save All Save Al

Explanation / Answer

27.
C.

Increasing the fuel efficiency of the car, will not shift the PPF curve.

28.
D

Human capital means skilled people and educated people who participate in the labor force or are the part of the general population.

29.
C.

Banks can create money by issuing and reissuing the loans using the deposits and required reserve ratios.

30.
E

Anne is unable to find the job due to the slowdown in the market. It has caused higher unemployment. Hence, it is the case of cyclical unemployment.

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