The Production Possibilities Frontier Will Shift If There Is a Change

question 61

Multiple Choice

The production possibilities frontier will shift if there is a change in

• A)technology
• B)unemployment
• C)product prices
• D)society's preferences for commodities
• E)the quantities of the two goods being produced

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Definitions:

Ethanol Subsidies

Financial incentives provided by governments to support the production and use of ethanol as a form of alternative energy, usually to promote environmental benefits or energy independence.

Farm Land

Land that is used for agricultural purposes, such as growing crops and rearing livestock.

Supply of Corn

The total amount of corn that producers are willing and able to sell at a given price level in a specific period.

Government Subsidies

Financial assistance provided by the government to support businesses, individuals, or economic sectors.