A PPF Is Bowed Outward as a Result of

question 146

Multiple Choice

A PPF is bowed outward as a result of

• A) constant opportunity costs.
• B) increasing opportunity costs.
• C) decreasing opportunity costs.
• D) scarcity.
• E) choice.

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Definitions:

F-ratio

A statistic calculated in analysis of variance (ANOVA) tests, comparing the variability between group means to the variability within groups.

Numerator

The top number in a fraction that indicates how many parts of the whole or collection are being considered.

Denominator

The bottom part of a fraction that indicates the total number of equal parts the whole is divided into.