Refer to the Above Graph

question 20

Multiple Choice

Refer to the above graph.If the production possibilities curve of an economy shifts from AB to CD, it is most likely caused by:

• A)a decrease in the price level.
• B)allocative efficiency.
• C)technological progress.
• D)full employment of resources.

Comprehend digital literacy and its importance.

Identify different types of computers and their intended use cases.

Recognize the role and impact of technology in accessing and managing information.

Acknowledge the significance of software, including system and application software, in the functionality of computers.

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Definitions:

Prevailing Wages

The average wage paid to workers in a specific area and industry, often used in regulations to ensure fair compensation.

Labor Costs

The total expenditure incurred by employers for the compensation of their workforce, including wages, benefits, and taxes.

Employee Turnover

The rate at which employees leave a company and are replaced by new employees over a specific period.

Automation

The use of machinery and technology to perform tasks without human intervention, often to improve efficiency and productivity.