Use the List Below to Answer the Following Question: 1

question 110

Multiple Choice

Use the list below to answer the following question: 1.Improvements in technology.
2) Increases in the supply (stock) of capital goods.
3) Purchases of expanding output.
4) Obtaining the optimal combination of goods,each at least-cost production.
5) Increases in the quantity and quality of natural resources.
6) Increases in the quantity and quality of human resources.
Which set of items in the list would shift an economy's production possibilities curve outward?

• A) 2,5,and 6 only.
• B) 2,4,5,and 6 only.
• C) 1,2,5,and 6 only.
• D) 1,3,and 4 only.

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Definitions:

Direct Labor-hour

A measure of labor input based on the time workers spend on a specific task or product.

Direct Labor Cost

The total cost of all labor directly involved in the production of goods or services, excluding indirect expenses such as managerial salaries.

Budgeted Production

The quantity of products a company plans to produce over a certain period, as determined during the budgeting process.

Budgeted Production

An estimate of the number of units that should be produced in a period to meet anticipated sales.