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Figure 2-12 -Refer to Figure 2-12.Which of the Following Would Most Likely

question 102

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Figure 2-12 Figure 2-12   -Refer to Figure 2-12.Which of the following would most likely have caused the production possibilities frontier to shift outward from A to B? A) a decrease in unemployment B) a technological advance in the consumer goods industries C) a general technological advance D) an increase in the availability of capital-producing resources
-Refer to Figure 2-12.Which of the following would most likely have caused the production possibilities frontier to shift outward from A to B?


Definitions:

Economic Growth

The increase in a country's production of goods and services over time, indicative of a growing economy.

Technology

Implementing scientific insights for real-world applications, chiefly in the field of industry.

Unemployment

The situation where individuals who are able and willing to work cannot find employment.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision or choosing between options.

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