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1) Are the following statements true or false? a. A country's PPF would shift outward due to an improvement in technology. b. As a country
1) Are the following statements true or false? a. A country's PPF would shift outward due to an improvement in technology. b. As a country produces more of a good, the opportunity costs of production will decrease due to efficiencies. c. The inflation rate will always be 0% during the base year. d. Natural unemployment includes both structural and frictional unemployment. e. Nominal GDP is the best approach for comparing a country's well-being over times. f. Autonomous consumption is a fraction between 0 and 1. g. The mpc will increase with positive expectations of the future. h. Autonomous consumption represents the amount of money an individual will spend when their income is $0. i. If an individual loses their job, we would move downwards along the consumption function. j. A positive change in expectations shifts the savings function upwards. k. Income and savings are directly related. l. The mpc is directly related to the multiplier
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