The Figure Given Below Has Four Graphs Showing the Production

question 55

Multiple Choice

The figure given below has four graphs showing the production possibilities frontier for capital goods and consumer goods. Which of the graphs below best illustrates the impact on the production possibilities frontier of a decrease in unemployment?

• A) a.
• B) b.
• C) c.
• D) d.
• E) b and d.

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Definitions:

UPA

stands for Uniform Partnership Act, which is a set of laws adopted by some states in the United States to govern the formation, operation, and dissolution of partnerships.

RUPA

The Revised Uniform Partnership Act, which is a set of laws aiming to govern the operation of partnerships within the United States.

Limited Liability Partnership (LLP)

A partnership in which some or all partners have limited liabilities, protecting them from personal responsibility for the debts of the business.

Personally Liable

Being directly responsible for the payment of debts or the fulfillment of obligations from one's own assets.