The Figure Given Below Represents the Production Possibilities Curves [PPC]

question 87

Multiple Choice

The figure given below represents the production possibilities curves [PPC] of a country producing wine and cars.
Figure 2.1

-Refer to Figure 2.1. If the country has curve I as its PPC, _____ would most likely cause the curve to shift to curve II.

• A) more farmland
• B) an increase in the work force
• C) the discovery of new metal resources
• D) a labor movement
• E) a consumer boycott

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Definitions:

Force Majeure Clause

A contractual provision that relieves the parties from fulfilling their obligations when certain circumstances beyond their control occur, making performance inadvisable, commercially impracticable, illegal, or impossible.

Unforeseeable Occurrence

An event that cannot be predicted and is beyond the control of the parties involved, oftentimes relieving them from contractual obligations due to impossibility.

Regional Legislatures

Government bodies responsible for making laws within specific geographical areas smaller than the national level, such as states or provinces.

Trade Barriers

Measures implemented by countries to regulate or restrict international trade, such as tariffs and quotas.