The Introduction of Compulsory Retirement for All Workers at Age

question 26

Multiple Choice

The introduction of compulsory retirement for all workers at age 60 would cause the production possibilities curve to

• A) become steeper.
• B) shift away from the origin.
• C) become flatter.
• D) shift towards the origin.
• E) change in an unpredictable way.

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Definitions:

Average Variable Costs

The sum of all costs that change with production volume, divided by the number of units produced.

Drones

Unmanned aerial vehicles (UAVs) controlled by remote pilots or autonomously by onboard computers, used for various purposes including surveillance, delivery, and photography.

Average Variable Costs

Costs that vary with the level of output produced, divided by the quantity of output produced.

Drones

Unmanned aerial vehicles (UAVs) that can be remotely controlled or fly autonomously through software-controlled flight plans in their embedded systems.