If All Resources Are Perfectly Adaptable for Alternative Uses,the Production

question 10

Multiple Choice

If all resources are perfectly adaptable for alternative uses,the production possibilities curve will

• A)be a straight line.
• B)be bowed in.
• C)be bowed out.
• D)not exist.

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Definitions:

Factor Analysis

A statistical technique that uncovers the fundamental factors or elements which account for the correlations observed among a collection of variables.

Subjective Bias

The tendency for personal judgments to be influenced by personal beliefs, opinions, and emotions rather than objective facts.

Objective

Not influenced by personal feelings or opinions in considering and representing facts.

L-data

Life record data, which includes real-world facts and outcomes from an individual's life used in psychological research.