An Improvement in Technology

question 191

Multiple Choice

An improvement in technology

• A)will always result in a parallel shift of the production possibilities frontier
• B)will never result in a parallel shift of the production possibilities frontier
• C)will be indicated as a movement along the production possibilities frontier
• D)will shift the production possibilities frontier outward but not necessarily to a parallel position
• E)may not shift the production possibilities frontier

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Definitions:

Health Insurance

Insurance covering the costs of medical and surgical procedures, medications, and sometimes dental expenses for the insured, functioning similarly to healthcare insurance.

Employer

An individual or organization that hires workers to perform services in exchange for compensation.

Taxable

Refers to income or transactions subject to taxation by governmental authorities.

Tax Deductible

Expenses that can be subtracted from gross income to reduce taxable income.