A Production Possibilities Frontier Will Shift Inward If There Is

question 71

True/False

A production possibilities frontier will shift inward if there is more unemployment of labor.

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Definitions:

Intercept

The point where a line, curve, or surface intersects a coordinate axis; often used in the context of the y-intercept of a line in a graph.

Slope

The measure of the steepness or incline of a line, defined as the ratio of the change in the y-variable to the change in the x-variable.

Mean Value

The average of a set of numerical data, calculated by dividing the sum of all values by the number of values.

Confidence Interval

A range of values, derived from sample statistics, that is likely to contain the value of an unknown population parameter.