In the Specific Factors Model, a Country's Production Possibility Frontier

question 13

Multiple Choice

In the specific factors model, a country's production possibility frontier is ________ because of ________.

• A) a straight line; diminishing marginal returns
• B) a curved line; diminishing marginal returns
• C) a straight line; constant marginal returns
• D) a curved line; constant marginal returns
• E) a curved line; a limited supply of labor

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Definitions:

Professional Vendor

A company or individual that provides specialized services or products to businesses under a contractual agreement.

Declining Cost

A situation where costs decrease over time, often due to increased efficiency, economies of scale, or technological advancements.

Health Care Benefits

A range of medical services and support provided to employees or members of an organization, including insurance, wellness programs, and access to medical care.

Employment Insurance (EI)

A government program providing temporary financial assistance to unemployed workers who have lost their job through no fault of their own.