Figure 3-2 -In Figure 3-2, at Point B

question 1

Multiple Choice

Figure 3-2
-In Figure 3-2, at point B

• A)it is impossible to increase production of consumer goods.
• B)it is impossible to increase production of capital goods.
• C)it is possible to increase production of both capital goods and consumer goods simultaneously.
• D)it is impossible to increase production of both capital goods and consumer goods simultaneously.

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Definitions:

Wage Attraction

The potential of an employer or a sector to draw employees by offering competitive or attractive wages.

Supply Plentiful

A market condition where there is an ample amount of goods or services available to meet consumer demand.

Market Wages

The prevailing pay rates for jobs in a given market, determined by supply and demand for labor in that market.

Wage Determination

The process through which wages for labor are set, involving factors like supply and demand, bargaining power, and government policies.