Greta Starts Using a New Baking Technique, and She Can

question 123

Multiple Choice

Greta starts using a new baking technique, and she can now do twice as much of everything. In a single day Greta can now make 10 cakes or 8 pies, rather than the 5 cakes and 4 pies she could previously bake. Greta's production possibility frontier has _____, but her opportunity costs of making pies _____.

• A)shifted right; are unchanged
• B)shifted right; have decreased
• C)not changed; have increased
• D)not changed; have decreased

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Definitions:

Final and Binding Arbitration

A dispute resolution process where an arbitrator or a panel makes a decision that is both conclusive and enforceable by law, with limited grounds for appeal.

Social Partnership

A model of industrial relations where employers, labor unions, and sometimes governments collaborate to negotiate and manage labor relations and economic policies.

Voluntarism

is a principle or system whereby actions and initiatives are undertaken voluntarily, often in the context of social and charitable endeavors, without coercion or regulatory mandate.

Workplace Equity

Fairness in treatment, opportunities, and advancements for all employees within a workplace, regardless of their personal characteristics or background.