The Production Possibilities Curve for the Nation of Economagic Shifts

question 35

Multiple Choice

The production possibilities curve for the nation of Economagic shifts to the left. This could have been caused by:

• A) an increase in Economagic's labor supply.
• B) innovation in the production of goods in Economagic.
• C) a war that destroyed some of Economagic's resource base.
• D) unemployment among Economagic's workers.

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Definitions:

Successes

The occurrences of a defined outcome of interest in a series of trials or tests.

Hypergeometric Distribution

A discrete probability distribution that describes the probability of k successes in n draws, without replacement, from a finite population of size N that contains exactly K successes.

Probability Distribution

A mathematical description of a random phenomenon in terms of the probabilities of its outcomes.

Electrical Outages

Interruptions in electrical power supply, often due to system failures or maintenance activities.