Increases in Resources or Improvements in Technology Will Tend to Cause

question 120

Essay

Increases in resources or improvements in technology will tend to cause a society's production possibility frontier to:
A.shift inward to the left.
B.shift outward to the right.
C.remain unchanged.
D.become vertical.

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Definitions:

Chapter 13

refers to a part of the U.S. Bankruptcy Code that enables individuals with a regular income to develop a plan to repay all or part of their debts.

Chapter 7

A provision of the bankruptcy code that provides for "liquidation," whereby a debtor's assets are distributed to creditors.

Repayment Plan

A structured schedule agreed upon for paying back borrowed money.

Security Interest

An official right or charge on property pledged as security, often for the purpose of loan repayment assurance.