Which of the Following Will Be Most Likely to Cause

question 13

Multiple Choice

Which of the following will be most likely to cause the production possibilities curve for a country to shift inward?

• A) an increase in the labor force
• B) an increase in unemployment
• C) development of an improved technological method of production
• D) a decrease in the stock of physical capital

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Definitions:

Estimated Total

An approximation of the sum or magnitude of a particular set of values or items, projected from sample data or generated through analysis.

Unit Product Cost

The total cost (both variable and fixed) associated with producing one unit of a product.

Total Job Cost

The sum of all costs assigned to a specific job, including materials, labor, and overhead.

Predetermined Manufacturing Overhead

An estimated overhead cost calculated before the actual production starts, used in budgeting and setting product prices.