-Which of the Following Will NOT Shift an Economy's Production

question 140

Multiple Choice

-Which of the following will NOT shift an economy's production possibilities curve outward?

• A)An increase in technology
• B)An improvement in the literacy rate
• C)A reduction in the unemployment rate
• D)An increase in the number of workers available

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Definitions:

Process Cost Systems

An accounting method used to track and assign production costs to products based on processes or departments, typical in industries that manufacture homogeneous products.

Total Manufacturing Costs

The aggregate of all costs involved in the production of a product, including direct labor, materials, and overhead.

Direct Materials

Raw materials directly used in the production of goods, whose costs are easily traced to the finished product.

Underapplied Overhead

A situation in which overhead assigned to work in process is less than the overhead incurred.