Which of the Following Is a Possible Explanation for the Shift

question 93

Multiple Choice

Which of the following is a possible explanation for the shift of the production possibilities curve illustrated?

• A) an increase in the number of idle factories
• B) a technological advance that affects only bicycle production
• C) a technological advance that affects both pizza and bicycle production
• D) a decrease in the quantity of labor available due to emigration

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Definitions:

Common Law

A legal system characterized by case law and legal precedents established by court decisions, as opposed to statutory laws enacted by governmental bodies.

Consideration

The benefit, interest, right, or profit that induces a party to enter into a contract; a fundamental component of a valid contract.

Common Law

A body of legal rules and principles based on court judgments and customs, rather than formal statutes or legislations.

UCC

The Uniform Commercial Code (UCC) is a comprehensive set of laws governing all commercial transactions in the United States, intended to standardize and simplify the law across state lines.