How Can the Production Possibilities Frontiers Shift Outward

question 27

Multiple Choice

How can the production possibilities frontiers shift outward?

• A) if government increases the amount of money in the economy
• B) if there is an increase in technology
• C) if resources can be moved from the production of one good to another
• D) if opportunity costs are reduced

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Definitions:

Idle Rich Hypothesis

A theory suggesting that people who inherit wealth or do not need to work for a living may lack motivation or drive, leading to unproductive or leisure-focused lifestyles.

Hatfields And McCoys

A reference to a long-standing and violent feud between two families of the American rural South in the late 19th century, symbolizing intense and prolonged conflict.

Social Identity Processes

The ways in which individuals identify with, and are influenced by, the social groups to which they belong.

Ingroup-Outgroup Processes

The social dynamics and psychological processes involved in categorizing others as belonging to the same group (ingroup) or a different group (outgroup).