A Production Possibilities Frontier Will Have a Curved, or "Bowed

question 152

Multiple Choice

A production possibilities frontier will have a curved, or "bowed out," shape if

• A) opportunity costs are declining.
• B) opportunity costs are increasing.
• C) resources are scarce.
• D) the economy is growing.

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Definitions:

Standard Stimulus

A specific stimulus used as a reference point in psychological experiments to measure reactions or perceptions.

Weber's Law

A principle describing the smallest difference in stimulus intensity that is detectable, typically proportional to the intensity of the original stimulus.

Difference Threshold

The smallest change in stimulation that can be detected 50% of the time by a participant.

Color Receptors

Cells in the retina of the eye that are sensitive to specific wavelengths of light, enabling color vision.