An Increase in General Resources That Affects the Production of Both

question 52

Multiple Choice

An increase in general resources that affects the production of both goods on a production possibilities frontier (PPF) would cause an

• A) inward shift of the PPF.
• B) outward shift of the PPF.
• C) outward rotation along the x axis.
• D) outward rotation along the y axis.
• E) increase in opportunity cost.

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Definitions:

Seniority System

A hierarchical structure within an organization that prioritizes individuals and their decisions based on their length of service or tenure.

Working Conditions

The environment in which an individual works, including aspects like safety, ergonomics, and the physical and psychological atmosphere.

Employment Relationship

The legal and social connection between an employer and employee, governed by contract and labor laws.

Employment At Will

A legal doctrine that means an employer can terminate an employee at any time for any reason, except an illegal one, and without warning, as the employee can also quit at any time.