Which of the Following Would Shift the Production Possibilities Frontier

question 116

Multiple Choice

Which of the following would shift the production possibilities frontier outward?

• A)An increase in the size of the labor force
• B)More efficient use of existing resources and technology
• C)The government prints more money
• D)The end of a strike by a labor union
• E)Society's desire to produce more of one of the goods

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Definitions:

First-move Ability

The advantage or strategic benefit gained by being the first to act or move in a given situation, often discussed within the context of game theory and competitive scenarios.

Optimal Output

The level of production where a firm maximizes its profits or minimizes its losses.

Differentiated Products

Products that are distinguished from others through variations in quality, features, design, branding, or customer service.

Equilibrium Price

The market price at which the quantity of goods supplied is equal to the quantity of goods demanded.