The Country of Econoland Produces Two Goods:textbooks and Widgets

question 46

Multiple Choice

The country of Econoland produces two goods:textbooks and widgets.Last year,it produced at a point inside its production possibilities frontier and currently it is operating at a point on the (same) production possibilities frontier.Which statement best explains the change

• A)Econoland was originally experiencing unemployment but is now employing all its resources.
• B)Econoland experienced an improvement in widget-making technology.
• C)Econoland acquired more resources.
• D)Econoland experienced a high level of emigration out of the country.

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Definitions:

Validity

The characteristic of possessing factual or logical robustness; in the realm of logic, it denotes a situation where true premises inevitably lead to a true conclusion.

Unstated Premise

An implicit assumption that is not explicitly expressed within an argument but is necessary for the argument's conclusion to hold.

Syllogism

A type of logic where a conclusion is reached from two provided or assumed statements (premises); a typical structure in logical reasoning.

A Proposition

A categorical proposition asserting that all members of the subject category are included in the predicate category, typically formulated as "All S are P."