An Increase in the Quantity of Resources Available

question 102

Multiple Choice

An increase in the quantity of resources available

• A) shifts the PPF leftward.
• B) shifts the PPF rightward.
• C) moves the economy to a new point up along a given PPF.
• D) moves the economy to a new point down along a given PPF.

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Definitions:

Income Tax Rate

The percentage at which an individual or corporation is taxed on their income.

Straight-Line Method

A method of calculating depreciation of an asset, which assumes the asset will lose an equal amount of value each year over its useful life.

Discount on Bonds Payable

Discount on bonds payable represents the difference between the face value of a bond and its selling price, when the bond is sold for less than its face value.

Premium on Bonds Payable

The excess of a bond's selling price over its principal amount.