Refer to the Above Graph

question 39

Multiple Choice

Refer to the above graph.If the production possibilities curve for an economy is at CD but the economy is operating at point X, the reasons are most likely to be:

• A)technological progress and industrial change.
• B)increases in the quantity and the quality of resources.
• C)improvement in labour productivity and the number of worker-hours.
• D)lack of full employment and inefficient allocation of resources.

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Definitions:

Financial Reports

Formal records of the financial activities and position of a business, individual, or other entity.

Comparability

A quality that enables users to identify similarities and differences between two or more items of financial information.

Financial Reports

Detailed statements that provide information on a company's financial performance and position over a specific period.

Stockholders' Equity

The interest left in a corporation's assets, after removing its obligations, which indicates the ownership share.