A Production Possibilities Curve Indicates That When Resources Are Being

question 37

Multiple Choice

A production possibilities curve indicates that when resources are being used efficiently,

• A) you can only produce more of one good only if you lower its price.
• B) you can only produce more of one good only if you produce more of another good.
• C) you can only produce more of one good only if you produce less of another good.
• D) it is impossible to expand the total output of goods over time.

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Definitions:

National Labor Relations Board

An agency of the US government tasked with implementing United States labor laws concerning collective bargaining and addressing unjust labor practices.

Fact Finder

Third party to collective bargaining who reports the reasons for a dispute, the views and arguments of both sides, and possibly a recommended settlement, which the parties may decline.

Work Stoppage

An industrial action in which employees refuse to work as a form of protest, typically to gain concessions from their employer.

Employer-Established System

A framework or set of procedures created by employers to standardize operations, manage employee relations, and ensure regulatory compliance within an organization.