If Firms Adopt a Technology That Can Increase Production Without

question 105

Multiple Choice

If firms adopt a technology that can increase production without increasing labor or other resource inputs, then

• A)the production possibilities curve remains unchanged.
• B)the production possibilities curve shifts inward.
• C)there is movement along the production possibilities curve.
• D)society does not face a new set of tradeoffs.
• E)points that were previously unattainable to society may now be attainable.

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Definitions:

Paid Vacation Days

Days allotted to employees during which they are paid their usual salary while not required to work, often for rest and recreation.

Decision-making Innovations

Refers to new methods, processes, or technologies that enhance the way decisions are made in organizations or societies.

Industrialized Countries

Nations characterized by a highly developed economy and technological infrastructure, with a significant portion of the population engaged in manufacturing and services.

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A period that marks the beginning of the 1970s decade, often associated with significant cultural, political, and social changes worldwide.