Solved

A Representative from Russia's Ministry of Economic Development Voiced Concern

Question 420

Multiple Choice

A representative from Russia's Ministry of Economic Development voiced concern over the fall in oil prices. The resulting decrease in state revenue would negatively affect social spending and state investment in new capital. In 2008, Russia's economic growth rate was 8.1% and might reach 3% in 2009.
BarentsObserver.com October 20, 2008
Suppose Russia's PPF has capital goods on the vertical axis while consumption goods are on the horizontal axis. Which of the following would describe the outcome described above?


A) Russia's PPF would become steeper
B) Russia's PPF would become flatter.
C) There would be an inward shift of Russia's PPF.
D) Russia's PPF would shift outward more slowly over the next several years.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents