Using a Production Possibilities Curve, a Technological Advance That Increases

question 87

Multiple Choice

Using a production possibilities curve, a technological advance that increases the amount of output that can be produced of either good represented on the graph when the amount of inputs remains the same would be illustrated as a(n) :

• A) flattening of the curve.
• B) movement from one point to another point along the curve.
• C) outward shift of the curve.
• D) movement from a point on the curve to a point inside the curve.

---

Definitions:

360-Day Year

An accounting convention that simplifies interest calculations by assuming each month has 30 days, totaling 360 days for the year.

Interest Calculation

The process of determining the charge for the use of borrowed funds or the return on invested funds, typically expressed as an annual percentage rate.

Accrued Interest

Interest that has been incurred but not yet paid or received.

90-Day Note

A short-term debt obligation that is due for repayment within 90 days of the note's issuance.