Which of the Following Is NOT an Assumption That Economists

question 36

Multiple Choice

Which of the following is NOT an assumption that economists make when developing a production possibilities frontier (PPF) ?

• A) We live in a world with only two goods.
• B) There are no increases in technology.
• C) There is no change in available resources.
• D) Society will always be producing somewhere on the PPF.
• E) There are no decreases in technology.

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Definitions:

Self-Serving Bias

A cognitive bias that involves attributing positive events to one's own character but attributing negative events to external factors.

Halo Effect

A mental shortcut where the general perception of an individual, corporation, brand, or product shapes the observer's emotions and opinions regarding that entity's attributes or qualities.

Attractive Faces

Facial features or characteristics that are considered aesthetically pleasing or beautiful according to social or cultural standards.

Unattractive Faces

Refers to facial appearances that are generally perceived as not aesthetically pleasing or less attractive according to societal standards.