A Movement Along a Production Possibilities Curve Will Lead to an Increase

question 40

Multiple Choice

A movement along a production possibilities curve will lead to an increase in social well-being,as long as

• A)There is enough labor and capital available to make the move
• B)The MSB of the move is greater than the MSC
• C)The MSB of the move is equal to the MSC
• D)The MSB of the move is less than the MSC
• E)No one in the economy is left worse off by the move

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Definitions:

Natural Selection

The evolutionary process by which organisms with traits that better enable them to adapt to their environment tend to survive and reproduce.

Acquisition

The process of learning or acquiring new information or skills.

Incentive

A factor, often a reward or benefit, that motivates an individual to perform an action or behave in a specific way.

Instinctive

Behavior that is innate and hardwired in an organism, often performed without being learned.