Improving the Education Level of the Labor Force Will

question 18

Multiple Choice

Improving the education level of the labor force will

• A)shift the production possibilities curve inward.
• B)not shift the production possibilities curve since the total size of the labor force has not been changed.
• C)shift the production possibilities curve outward.
• D)cause a movement from a point inside the production possibilities curve to a point on the curve.

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Definitions:

Unit Sales

The measure of the quantity of individual items sold by a company, as opposed to total revenue.

Break-Even

The point at which total costs and total revenues are equal, resulting in no net gain or loss.

Fixed Expense

Costs that do not fluctuate with changes in production level or sales volume, such as rent, salaries, and insurance premiums.

Variable Expense

Expenses that vary directly with changes in production volume or business activity levels.