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Figure 2.3
Figure 2.3 shows various points on three different production possibility frontiers for a nation.
-Refer to Figure 2.3. Consider the following events:
A.a decrease in the unemployment rate
B.general technological advancement
C.an increase in consumer wealth
Which of the events listed above could cause a movement from V to W?
Slamming
The illegal practice of changing a consumer’s telephone service without permission.
Limited Warranties
Warranties that cover only certain parts, certain defects, or have other specific limitations established by the seller.
Used Car Dealers
Businesses specialized in selling pre-owned vehicles to consumers.
Strict Liability
The doctrine under which people may be liable for injuries to others whether or not they have been negligent or committed an international tort. Also called absolute liability.
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