ECN101

A. experience less consumption this year but increased consumption next year as the economy moves along its PPF

B. experience an inward shift of the PPF today because the opportunity cost of an increase in human capital next year is a decrease in physical capital this year

C. experience economic growth next year because the increase in human capital will shift the PPF outward next year but at a cost of less consumption this year.

D. expand its production possibilities next year with no opportunity cost this year and scarcity will remain

A. develop better technologies for producing goods and services

B. improve the quality of labor by​ education, on-the-job​ training, and work experience

C. use more capital resources

D. use all its resources to produce consumption goods

A. Emma​;Emma

B. Betsy​; Emma

C. Emma​;Betsy

D. Betsy​;Betsy

A. Alpha's and​ Beta's economic growth rates will be the same

B. Alpha consumes lessless than Beta​ today, but it will grow fasterfaster than Beta

C. Beta's future consumption will be greatergreater than​ Alpha's

D. Beta's economic growth rate will exceed Alpha'sBeta's economic growth rate will exceed Alpha's.

A. amount of each good that people want to buy.

B. maximum combinations of goods and services that can be produced.

C. resources the economy​ possess, but not its level of technology.

D. goods and services that people want.

E. limits to​ people's wants.

A. Dave makes 4 pizzas giving up 6 jars of milk shakes while Rob makes 2 pizzas giving up 4 jars of milk shakes.

B. The United States produces less textile products and more electronic products.

C. Angela makes better pastries than Sherrie.

D. Michael Jordan is an American basketball player.