When Drawing a Production Possibilities Frontier, All of the Following

question 140

Multiple Choice

When drawing a production possibilities frontier, all of the following are usually assumed except one.Which is the exception?

• A)The quantity of resources is rapidly growing.
• B)Technology is fixed.
• C)Resources can be shifted between production of the two goods.
• D)The production possibilities frontier is drawn for a particular time period.
• E)Resources are fully and efficiently employed.

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Definitions:

Employee Assistance Plans

Programs offered by employers to provide confidential support services to employees dealing with personal or work-related problems.

Factor-Comparison Method

The factor-comparison method for job evaluation assesses jobs, on a factor-by-factor basis, using a factor-comparison scale as a benchmark.

Job Evaluation

A systematic process for determining the relative worth or value of a job in relation to other jobs within an organization.

Benchmark Jobs

Positions within an organization that are used as reference points for setting wages and evaluating other jobs by comparing required skills, responsibilities, and roles.