The Introduction of New and More Productive Technology into the Workplace

question 58

Multiple Choice

The introduction of new and more productive technology into the workplace will generally cause the production possibilities curve to

• A) become steeper.
• B) shift away from the origin.
• C) become flatter.
• D) shift towards the origin.
• E) change in an unpredictable way.

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Definitions:

Prepaid Expenses

Costs for goods or services that are paid for in advance of being used or consumed, recognized as assets on a balance sheet.

Income Statement

A financial statement that reports a company's financial performance over a specific accounting period, detailing revenues, expenses, and net income.

Accounts Receivable

Outstanding payments due to a company from its clients for delivered goods or services awaiting compensation.

Direct Method

A cost allocation method that assigns service department costs directly to production departments without intermediate steps.