What Does an Outward Shift of a Nation's Production Possibility

question 10

Multiple Choice

What does an outward shift of a nation's production possibility frontier represent?

• A)Economic growth
• B)Rising prices of the two goods on the production possibility frontier model
• C)An impossible situation
• D)A situation in which a country produces more of one good and less of another

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Definitions:

Wage Rate

An alternative expression for the compensation paid to an employee per unit of time worked, typically measured on an hourly basis.

Employment

The state of having paid work or the act of providing jobs for workers, contributing to an economy's labor force.

Temporary Assistance for Needy Families

A government aid program in the U.S. aimed at aiding low-income families to reach financial independence through monetary support and assistance services.

TANF

Temporary Assistance for Needy Families, a government program that provides financial aid to eligible low-income families.