AP MICROECONOMICS SEMESTER EXAM REVIEW SHEET
Which of the following will cause an inward shift of the production possibilities curve?
a. Increased funding for training workers and students
b. The discovery of a vital natural resource
Chapter One p. 3-13
Economics: social science concerned with the efficient use of limited or scarce resources to achieve
maximum satisfaction of human material wants.
Economic perspective: a unique way of thinking about economic issues
Congress recent decision to vote for $500 billion in new spending in lieu
of todays economy is raising concerns. Due to the fact that nominal GDP isnt
changing and the unemployment rate is low at only 3%, we believe the economy
to be at the