In General,the Greater the Proportion of Resources Devoted to Technological

question 16

Multiple Choice

In general,the greater the proportion of resources devoted to technological research in an economy,the

• A)greater is current consumption.
• B)faster the production possibilities frontier shifts outward.
• C)faster the production possibilities frontier shifts inward.
• D)closer it comes to having a comparative advantage in the production of all goods.
• E)more bowed out is the shape of the production possibilities frontier.

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Definitions:

Quantitative Forecasting

The use of numerical data and statistical models to predict future events or trends.