Which of the Following Could Lead to an Inward Shift

question 134

Multiple Choice

Which of the following could lead to an inward shift of the production possibilities frontier?

• A) an increase in the cost of one good
• B) an increase in the utilization of resources
• C) a rise in the level of technology
• D) a law is passed whereby a mandatory retirement age of 60 is imposed
• E) a decrease in the utilization of resources

Understand the concept of bounded rationality and its implication on decision-making.

Identify the importance of ethical considerations in decision-making.

Learn how to implement and evaluate decisions in an organizational context.

Recognize the role of intuition and satisficing in decision-making under uncertainty.

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Definitions:

Excise Tax

A specific tax levied on the sale or consumption of particular goods, such as alcohol, tobacco, and gasoline.

Economic Activity

Actions that involve the production, distribution, and consumption of goods and services at all levels within a society.

CD Players

Electronic devices that play audio CDs using laser technology, now largely supplanted by digital music formats.

Excise Taxes

Excise taxes are taxes paid when purchases are made on a specific good, such as fuel, tobacco, and alcohol, often included in the price of the product.