The Figure Given Below Represents the Production Possibilities Curves [PPC]

question 10

Multiple Choice

The figure given below represents the production possibilities curves [PPC] of a country producing wine and cars.Figure 2.1

-Which of the following will result in an outward shift of the production possibilities curve [PPC]?

• A)A decrease in the quantity of resources
• B)An improvement in the quality of resources
• C)A fall in education standards
• D)An unsustainable growth in population
• E)An increase in unemployment rate

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Definitions:

Regression Analysis

Regression analysis is a statistical method used to model and analyze the relationship between a dependent variable and one or more independent variables.

Variable

An attribute or characteristic that can assume different values among subjects in a study or items in a data set, each potentially impacting outcomes.

Least Squares Estimates

Statistical estimates obtained by minimizing the sum of the squared differences between observed and predicted values in regression analysis.

Simple Linear Regression

A statistical method that models the linear relationship between a single independent variable and a dependent variable by fitting a linear equation to observed data.