Multiple Choice
Which of the following is likely to affect the position and shape of society's production possibilities frontier?
A) volume of physical resources
B) level of labor skills
C) level of technology
D) amount of factories on hand
E) All of the above are correct.
Correct Answer:

Verified
Correct Answer:
Verified
Q10: Efficiency is defined as minimizing waste.
Q13: If an economy is producing inefficiently, it
Q38: Specialization and division of labor are made
Q81: In terms of the production possibilities diagram,
Q88: If the U.S.government decides to increase military
Q94: Opportunity costs exist for<br>A)households but not businesses
Q128: The political party that is in power
Q146: A ticket to an Eric Clapton concert
Q193: Economics examines the options open to households
Q253: A market economy allocates resources primarily in