According to the Production Possibility Model, If More Resources Are

question 104

Multiple Choice

According to the production possibility model, if more resources are allocated to the production of physical and human capital, then which of the following is likely to happen?

• A)Fewer goods will be produced for consumption today.
• B)The production possibility frontier will be shifted inward in the future.
• C)Future economic growth will decline.
• D)The country's total production will fall.

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Definitions:

Credit Side

The right side of a financial ledger, where increases in liabilities, equity, and revenue, and decreases in assets and expenses are recorded.

Chart Of Accounts

A numbering system of accounts that lists the account titles and account numbers to be used by a company.

Account Balance

The difference between the debits and credits recorded in an account, representing the net value at a point in time.

Compound Entry

In accounting, it refers to a journal entry that involves more than two accounts whereby multiple debits and/or credits are made.