Consider a Production Possibilities Frontier with Corn on the Vertical

question 143

Multiple Choice

Consider a production possibilities frontier with corn on the vertical axis and cars on the horizontal. Unusually good weather for growing corn shifts

• A) the vertical intercept upward but does not shift the horizontal intercept.
• B) the horizontal intercept rightward and the vertical intercept upward.
• C) the horizontal intercept rightward but does not shift the vertical intercept.
• D) neither the horizontal intercept nor the vertical intercept.

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Definitions:

Agriculture

The science, art, and practice of cultivating plants and livestock.

Imports

Foreign goods and services purchased by domestic customers.

Domestic Consumers

Individuals or households within a country that purchase goods and services for personal use as opposed to international or business consumers.

Foreign-made

This term describes products that are produced outside of one's home country.