If an Economy Experiences an Increase in Its Labor Force,everything

question 25

Multiple Choice

If an economy experiences an increase in its labor force,everything else constant,then its production possibilities frontier (PPF) will

• A)expand outward but keep its original shape.
• B)expand outward largely in the direction of the labor intensive good.
• C)expand outward largely in the direction of the capital intensive good.
• D)not expand until capital grows.

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Definitions:

Inventory Flexibility

The ability of a supply chain to quickly adjust its inventory levels in response to shifts in demand, product variety, and market dynamics.

Random Variation

The unpredictable fluctuations or differences that can occur within any process or set of data due to chance.

Exponential Smoothing

A time series forecasting method for data smoothing using exponential window functions.

Customer Demand

The quantity of products or services that consumers are willing and able to purchase at various prices over a given period of time, influencing production and pricing strategies.