The Figure Given Below Represents an Economy Producing Corn and Planes

question 60

Multiple Choice

The figure given below represents an economy producing corn and planes under different economic situations.Figure 2.2

-Which of the following will bring about an inward shift of a production possibilities curve [PPC]?

• A)A decrease in the amount of resource employment
• B)An increase in the working-age population
• C)An increase in unemployment
• D)A decrease in the availability of natural resources
• E)An increase in the amount of capital available

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Definitions:

Central Limit Theorem

A statistical theory that states that, given a sufficiently large sample size, the distribution of the sample mean will be approximately normally distributed, regardless of the distribution of the parent population.

Sample Mean

The sample mean is the average value of a sample set, calculated by adding together all of the observations and dividing by the number of observations.

Skewed to the Right

Describes a distribution of data that has a tail extending to the right, indicating that the majority of data points are on the left.

Sample Mean

The arithmetic average of a set of sample observations, used as an estimate of the population mean.