A Bowed Out PPF Reflects Which of the Following Ideas

question 117

Multiple Choice

A bowed out PPF reflects which of the following ideas?
i.Increasing opportunity cost
ii.Resources are not equally productive in all activities.
iii.Prices of goods increase over time.

• A) i only
• B) i and ii
• C) i and iii
• D) ii and iii
• E) i, ii, and iii

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Definitions:

Premium

The amount paid for an insurance policy or the fee charged by insurers for providing coverage.

Comprehensive Coverage

A type of automobile insurance that provides protection against loss when the insured’s car is damaged or destroyed by fire, lightning, flood, hail, windstorm, riot, vandalism, or theft.

Actual Cash Value

The amount equal to the replacement cost of damaged or stolen property minus depreciation.

Liability

The condition of being legally accountable for certain actions or responsibilities, particularly regarding financial debts or legal duties.