Which of the Following Would Shift a Nation's Production Possibilities

question 72

Multiple Choice

Which of the following would shift a nation's production possibilities frontier inward?

• A)discovering a cheap way to convert sunshine into electricity
• B)producing more capital equipment
• C)an increase in the unemployment rate
• D)a law requiring workers to retire at age 50

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Definitions:

Ownership

The legal right to possess, use, and control a tangible or intangible item.

Consignment

The process of placing goods in the possession of another party to sell, while retaining ownership until the goods are sold.

Consignee's Ending Inventory

The value of goods that are still on consignment at the end of an accounting period, not yet sold by the consignee.

Specific Identification

An inventory costing method where the cost of each specific item in inventory is identified and assigned to the sold units.