Which of the Following Is Not True About Production Possibilities

question 87

Multiple Choice

Which of the following is not true about production possibilities frontiers?

• A) moving from one point to another on a PPF incurs a tradeoff
• B) economic growth is shown by shifting the PPF outward
• C) unemployment of resources is shown by shifting the PPF inward
• D) a PPF can shift inward or outward

Analyze the role and provisions of international treaties and legislations in intellectual property law.

Evaluate the mechanisms for protecting intellectual property in the digital age and the impact of the internet.

Appreciate the ethical and legal considerations surrounding confidentiality and duty of employees toward their employer.

Understand the significance of public domain in intellectual property law.

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Definitions:

Activity Variance

The difference between a revenue or cost item in the flexible budget and the same item in the static planning budget. An activity variance is due solely to the difference between the actual level of activity used in the flexible budget and the level of activity assumed in the planning budget.

Flexible Budget

A report showing estimates of what revenues and costs should have been, given the actual level of activity for the period.

Static Planning Budget

is a budget based on a fixed level of activity and does not change with actual activity levels, useful for planning but less so for performance evaluation.

Unfavorable Activity Variance

This term describes a situation where actual costs exceed the standards or budgeted amounts, leading to a negative variance.