The Following Figure Has Four Graphs Showing the Production Possibilities

question 3

Multiple Choice

The following figure 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 technological improvement that will make the resources used to produce consumer goods more efficient?

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

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Definitions:

Solidarity Theory

A concept in social sciences that emphasizes unity and agreement among individuals or groups, supporting each other to achieve common goals.

Relative Deprivation Theory

A sociological theory that posits individuals or groups will feel deprived and likely to seek social change when they compare themselves to others who are better off.

National Industrial Recovery Act

A 1933 U.S. law aimed at boosting economic recovery during the Great Depression through industrial codes of fair practice and stimulating jobs creation.

Anti-Union Legislation

Laws aimed at limiting the power and activities of labor unions, affecting the rights of workers to organize.