On a Given Production Possibilities Frontier, Which of the Following

question 151

Multiple Choice

On a given production possibilities frontier, which of the following is NOT assumed to be fixed?  

• A) the amount of labour available 
• B) the production of each item 
• C) the level of technology 
• D) the amount of land and natural resources available

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Definitions:

Deregulation

Deregulation involves the reduction or elimination of government power in a particular industry, often with the intention of increasing competition and fostering innovation.

Free Market Principles

Economic policies and systems that rely on supply and demand free from government intervention to govern market operations.

Information Flow

Describes the transfer and dissemination of information from its source to receivers through various channels or media.

War Times

Periods during which a country is engaged in armed conflict.