-In the Figure Above, How Can the Economy Represented by the Production

question 127

Multiple Choice

-In the figure above, how can the economy represented by the production possibilities frontier move from point C to point F ?

• A) First move to point B and then move to point F.
• B) Increase the available amount of resources.
• C) Redistribute the existing resources to produce more apples and fewer oranges.
• D) Increase the level of technology.

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Definitions:

Distribution

Describes the way values in a dataset are spread or dispersed across the range of possible values.

Standard Deviation

A statistical measure that quantifies the amount of variation or dispersion of a set of data values from their mean.

Normally Distributed

Describes a distribution that is symmetrical, bell-shaped, and characterized by data equally spread around the mean, implying many measurement observations fall close to the average.

Mean

The average value in a set of numbers calculated by dividing the sum of all values by the number of values.