Multiple Choice
A production possibilities curve will shift outward or to the right for all of the following reasons EXCEPT
A) an increase in the unemployment rate.
B) an increase in the quality of the labor force.
C) an improvement in production technology.
D) a discovery of a new source of renewable energy.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: All points inside the production possibilities curve
Q2: Refer to the above figure. Production at
Q3: David has just ordered a smartphone only
Q4: The law of increasing additional cost exists
Q5: Which type of resource will improve through
Q7: Technology<br>A) is constantly changing at every point
Q8: The production possibilities curve for two products
Q9: Refer to the above figure. A farmer
Q10: Opportunity cost exists because of<br>A) poverty.<br>B) scarcity.<br>C)
Q11: Opportunity cost is<br>A) the cost of producing