Suppose the Economy Goes from a Point on Its Production

question 128

Multiple Choice

Suppose the economy goes from a point on its production possibilities frontier (PPF) to a point below that PPF.Assuming that the PPF has not shifted,this could be due to

• A) a gain of resources.
• B) a loss of resources.
• C) technological improvement in the production of both goods.
• D) an increase in unemployment of some resources.

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Definitions:

Goal Acceptance

The degree to which individuals or groups agree upon and commit to achieving a set goal or target.

Time Management

The process of organizing and planning how to divide one's time between specific activities to maximize efficiency and productivity.

Physiological Need

Fundamental requirements necessary for sustaining the human body's basic functions, such as food, water, and shelter, identified as the base level of Maslow's hierarchy of needs.