An Improvement in Technology or an Increase in the Amount

question 58

Multiple Choice

An improvement in technology or an increase in the amount of capital goods will

• A) result in movement along a fixed production possibilities curve.
• B) diminish the society's production potential.
• C) increase the opportunity costs of all goods.
• D) cause the production possibilities curve to become vertical.
• E) shift the production possibilities curve outward.

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Definitions:

Population Average

A statistical measure that reflects the average characteristic of a particular population.

Representative Sample

A subset of a population that accurately reflects the members of the entire population, used in statistical analysis.

Skewed Distribution

A type of distribution in which data points are not evenly distributed around the mean, leading to a longer tail on one side of the distribution.

Longitudinal Study

A research design that involves repeated observations of the same variables (such as people) over short or long periods of time, sometimes lasting many years.