An Increase in the Labour Force Shifts the Production Possibility

question 55

True/False

An increase in the labour force shifts the production possibility frontier inwards over time.

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Definitions:

Age

A measure of time that an individual or object has existed from its birth or creation to a specific point.

Factor Distribution

The way economic outputs, incomes, or assets are distributed among the factors of production, such as labor and capital.

Income

The monetary payment received for goods or services, or the earnings from investment capital.

United States

A country in North America, consisting of 50 states and a federal district, known for its significant influence on global politics, economy, and culture.