Improving the Level of Education of the Labor Force Will

question 45

Multiple Choice

Improving the level of education of the labor force will:

• A)move the economy from a point inside the production possibilities curve to a point on the production possibilities curve.
• B)move the economy from a point on the production possibilities curve to a point inside the production possibilities curve.
• C)shift the production possibilities curve outward.
• D)shift the production possibilities curve inward.
• E)make the production possibilities curve linear.

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Definitions:

Deflation

Opposite of inflation, occurs when prices continue to fall.

Housing And Auto Manufacturing

Industries involved in the construction of residential buildings and the production of automobiles, both critical sectors of the economy.

Restrictive Monetary Policy

Government actions to reduce the money supply to curb rising prices, overexpansion, and concerns about overly rapid economic growth.

Money Supply

The total amount of monetary assets available in an economy at a specific time, including cash, coins, and balances held in checking and savings accounts.