Technological Change Will Shift the PPF

question 38

Multiple Choice

Technological change will shift the PPF:

• A) to the left
• B) outward
• C) inward
• D) symmetrically

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Definitions:

Defined Contribution Pension Plan

A retirement plan where the employer, employee, or both make contributions, and the final benefits depend on the investment's performance.

Salaries

Payments made to employees for their labor or services over a period.

Social Security Tax

Definition: Taxes collected by governments to fund social security programs, typically levied on both employers and employees.

Medicare Tax

A federal tax taken from earnings to fund the Medicare program, which provides health insurance for individuals aged 65 and older.