Hurricane Katrina destroyed much of New Orleans and other parts of the South.Which of the following statements is true?
A) The hurricane caused the production possibilities frontier of the United States to shift in.
B) The hurricane caused the production possibilities to increase,since it created a lot of work to rebuild the city and surrounding areas.
C) The hurricane caused the production possibilities frontier of the United States to shift out.
D) None of these statements is true.
Correct Answer:
Verified
Q12: Trade:
A)only benefits the stronger nation.
B)only benefits the
Q13: An increase in productivity as a result
Q14: Trade:
A)increases total production,which can benefit everyone involved.
B)increases
Q15: The production possibilities frontier:
A)can show all possible
Q16: If a wealthy nation like the United
Q18: The slope of a production possibilities frontier
Q19: If we consider the reality that each
Q20: If society were to experience an increase
Q21: When a producer has the ability to
Q22: When a producer has a comparative advantage
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