An Increase in the Technology Used in the Production of Only

question 17

Multiple Choice

An increase in the technology used in the production of only one of the two goods in a society will

• A) eliminate scarcity
• B) move the production possibilities frontier out in all directions
• C) move the production possibilities frontier in all directions
• D) leave one corner of the production possibilities frontier fixed and swing out from the other

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Definitions:

Negative Stimulus

An unfavorable event or situation that elicits a response or reaction, often used in conditioning and behavioral studies.

Piece Rate Pay

A compensation system where employees are paid based on the amount of work completed, not on the amount of time worked.

Hourly Pay

A method of compensation where employees are paid for each hour of work performed, commonly used for part-time or temporary positions.

Safe Working Practices

Guidelines and procedures designed to reduce the risk of accident or injury in the workplace.