In Order to Shift the Current Production Possibilities Curve Outward,an

question 65

Multiple Choice

In order to shift the current production possibilities curve outward,an economy

• A)Must use more of the existing resources.
• B)Can raise the prices of goods and services to encourage firms to produce more.
• C)Must find additional resources or better technology.

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Definitions:

Bimodal Data

Data that has two different modes, or peaks, in its frequency distribution.

Empirical Rule

A statistical rule stating that for a normal distribution, nearly all of the data will fall within three standard deviations of the mean.

Measure Variability

The degree to which data points in a dataset differ from each other and from their average value.

Square Root

A value that, when multiplied by itself, gives the original number. It is often represented as \(\sqrt{x}\) for a number \(x\).