The Bowed-Outward Shape of a PPF

question 297

Multiple Choice

The bowed-outward shape of a PPF

• A) is due to capital accumulation.
• B) reflects the unequal application of technology in production.
• C) illustrates the fact that no opportunity cost is incurred for increasing the production of the good measured on the horizontal axis but it is incurred to increase production of the good measured along the vertical axis.
• D) is due to the existence of increasing opportunity cost.

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Definitions:

Remembered

Pertaining to having memory or recollection of someone or something

Deep Processing

involves the active manipulation of information to make it meaningful, thus improving its understanding and facilitating its retention.

Craik And Lockhart

Renowned for their Levels of Processing theory, which suggests that memory retention is influenced by the depth of processing, with deeper levels resulting in longer-lasting memory trace.

Meaning

The significance, purpose, or understanding attached to something, such as a word, action, or symbol.