Figure 2-7 -Which of the Following Could Explain the Shift in the the Shift

question 122

Multiple Choice

Figure 2-7

-Which of the following could explain the shift in the production possibilities frontier shown in Figure 2-7 from AC to AB?

• A) technical improvements in both petroleum and clothing production
• B) a productive improvement in clothing production that has no effect on petroleum production
• C) a decrease in the size of the labor force that can produce either petroleum products or clothing
• D) major oil reserves in Alaska are declared off-limits to producers in order to protect the environment
• E) major oil reserves are discovered off the coast of Africa

Calculate the estimated unit product cost.

Determine the estimated direct labor cost.

Calculate the estimated net operating income or loss.

Compute the inventory balance of raw materials by the end of the month.

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Definitions:

National Labor Relations Act

The National Labor Relations Act (or Wagner Act) created the NLRB, which administers most labor law in the United States.

Norris-La Guardia Act

A 1932 U.S. federal law that prohibited employers from requiring employees to sign agreements not to join a labor union and also limited the issuing of court injunctions in labor disputes.

Executive Order 11246

A U.S. presidential order that prohibits federal contractors from discriminating against employees on the basis of race, color, religion, sex, or national origin.

Affirmative Action Plans

Strategies and measures adopted by organizations to improve opportunities for historically marginalized groups by considering those factors in decisions like hiring and promotions.