Referring to a Production Possibilities Curve and the Goods Being

question 158

Multiple Choice

Referring to a production possibilities curve and the goods being compared,depict the economic event.The SARS epidemic spreads rapidly throughout Toronto,Canada claiming millions of lives (capital vs.consumer goods) .

• A)A movement from a point inside the curve to a point on or near the curve
• B)A movement from a point on or near the curve to a point inside the curve
• C)A shift in the entire curve to the right (outward)
• D)A shift in the entire curve to the left (inward)
• E)A movement along the curve

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Definitions:

Average Canadian Household

A statistical measure reflecting the typical living arrangement and economic situation of households in Canada.

Marketing Department

The marketing department is a division within a company that focuses on strategies to promote, sell and distribute its products or services.

Actual Spending

The actual amount of money spent over a specific period, as opposed to budgeted or planned spending.

Budget

A financial plan that estimates income and expenses over a specified period of time.