Figure 2-2 -Which of the Following Would Most Likely Cause the Production

question 122

Multiple Choice

Figure 2-2
-Which of the following would most likely cause the production possibilities curve for breadfruit and fish to shift outward from AA to BB in Figure 2-2?

• A) a decrease in the labor force of the country
• B) a sudden change in consumer preferences for more fish and less breadfruit
• C) a major technological advance
• D) a decrease in the capital stock

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Definitions:

Majority Vote

A decision rule in which the option that receives more than half of the votes is chosen.

Economic Efficiency

A state where resources are allocated in the most effective way possible, maximizing output without wasting any inputs, ensuring that goods and services are produced at the lowest possible cost and distributed to those who value them most.

Deregulation

The process of removing or reducing government controls and restrictions in an industry to allow for more competition and efficiency.

Pork-Barrel Politics

The allocation of government spending for localized projects secured primarily to bring money to a representative's district, often without proper consideration of the benefits or costs.