Brooklyn College, CUNYECON 10.1

Document Content and Description Below

1. During the Persian Gulf War many of Kuwait’s oil refineries were destroyed. This would best be represented by: a) a movement down Kuwait’s production possibility frontier b) a movement off ... Kuwait’s production possibility frontier to some point inside the frontier c) a shift of Kuwait’s production possibility frontier back and to the left d) a movement up Kuwait’s production possibility frontier 2. Which of the following is most likely to shift the production possibility frontier outwards? a) a change in consumer tastes b) the purchase of stocks on the New York Stock Exchange c) moving resources from capital to consumer goods d) an increase in the general educational level of the population [Show More]

Last updated: 1 year ago

Preview 1 out of 30 pages