A Decrease in the Quantity of Resources

question 46

Multiple Choice

A decrease in the quantity of resources

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

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Definitions:

Compounded Monthly

Interest calculated on the principal sum and also on the accumulated interest of previous periods of a deposit or loan, compounded every month.

Equal Payments

Payments that are the same in amount, typically referring to installments paid over a certain period of time.

Outstanding Balance

the amount of money that is still owed or remains unpaid on a loan, credit card, or another financial obligation.

Combined Equivalent

A combined or total equivalent that incorporates various elements or aspects to express a singular value or concept.