Consider Canada's Production Possibilities Boundary

question 58

Multiple Choice

Consider Canada's production possibilities boundary.During the nineteenth and early twentieth centuries,millions of people immigrated to western Canada.The effect on the Canadian economy was to

• A)move it to a point beyond its new production possibilities boundary.
• B)move it inside its new production possibilities boundary.
• C)shift its production possibilities boundary inward.
• D)shift its production possibilities boundary outward.
• E)move it along an unchanged production possibilities boundary.

---

Definitions:

Cash Basis

An accounting method that recognizes revenues and expenses only when money is actually received or paid out.

Sales Adjusted

The revision of sales figures to reflect returns, allowances for damaged goods, or changes due to promotional strategies, providing an accurate net sales number.

Cash Basis

An accounting method where revenues and expenses are recognized only when cash is received or paid, respectively, not when the transactions occur.

Cost of Goods Sold

The total direct costs attributable to the production of goods sold in a company.