In General, the More Resources That Are Devoted to Technological

question 33

Multiple Choice

In general, the more resources that are devoted to technological research, the

• A) greater is current consumption.
• B) higher is the unemployment rate.
• C) faster the PPF shifts outward.
• D) more the PPF will bow outward.

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Definitions:

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied, leading to market balance.

Interest Rate

The percentage of an amount of money charged for its use over a specified period of time, often expressed as an annual percentage.

Gnome Molds

Tools or containers used to shape garden gnome statues during their production process.

Plaster

A mixture of water, lime, or gypsum, sand, and possibly other materials, used in construction and repair of buildings for coatings, molding, or casting surfaces.