Other Things Equal, Which of the Following Would Shift an Economy's

question 173

Multiple Choice

Other things equal, which of the following would shift an economy's production possibilities curve to the left?

• A)the discovery of a low-cost means of generating and storing solar energy
• B)the entrance of more women into the labour force
• C)a law requiring mandatory retirement from the labour force at age 55
• D)an increase in the proportion of total output which consists of capital or investment goods

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Definitions:

Sole Proprietor

A business owned and operated by a single individual, where the owner is personally responsible for the business's debts.

Initial Investment

The amount of money used to start a new business venture, project, or investment.

Natural Resources

Raw materials and components found in the environment that can be used for economic gain, such as minerals, forests, water, and land.

Final Goods and Services

Goods and services sold to final, or end, users.