The Effect of an Increase in Productive Inputs Such as Labor

question 238

Multiple Choice

The effect of an increase in productive inputs such as labor and capital can be shown by:

• A)a point inside of the production possibility frontier.
• B)an outward shift of the production possibility frontier.
• C)a movement from one point to another along the production possibility frontier.
• D)an inward shift of the production possibility frontier.

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Definitions:

Financially Independent

Being financially independent means having sufficient personal wealth to live, without needing to work actively for basic necessities.

Highly Educated

Referring to individuals who have obtained a high level of formal education, often including college degrees or beyond.

Stepfamily Households

consist of family units formed by the marriage or partnership of individuals, at least one of whom has children from a previous relationship.

Nuclear Families

A family group consisting of parents and their children, considered as a basic social unit.