The Concave Shape of a Production Possibilities Frontier Showing Possible

question 186

Multiple Choice

The concave shape of a production possibilities frontier showing possible output levels of good A and good B indicates that if the economy produces more and more of good B,

• A)larger and larger amounts of good A must be sacrificed
• B)smaller and smaller amounts of good A must be sacrificed
• C)more of good A will be produced
• D)the amount of resources available in the economy must be increased
• E)there must be an improvement in technology

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Definitions:

Testable Hypotheses

Propositions or predictions that are formulated to be rigorously tested and validated through empirical observation and experimentation.

False Consensus Effect

The cognitive bias whereby individuals overestimate the extent to which their beliefs, values, attitudes, or opinions are shared by others.

Oedipus Complex

A psychoanalytic theory describing a child's feelings of desire for the opposite-sex parent and jealousy towards the same-sex parent.

Projection

A defense mechanism where an individual attributes their own unacceptable thoughts or feelings to others.