The Effect of an Increase in Productive Inputs Such as Labour

question 163

Multiple Choice

The effect of an increase in productive inputs such as labour and capital can be shown by a(n) :

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

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Definitions:

25%

A percentage often referred to in financial contexts, such as a tax bracket, rate of return on investment, or portion of an entity.

Social Security

A government system that provides financial assistance to people with an inadequate or no income, particularly in retirement, disability, or survivorship.

Wage Limitation

A cap on the amount of wages that can be considered for certain tax calculations or benefits, such as Social Security taxes.

Standard Deduction

A fixed dollar amount that reduces the income on which you are taxed, varying by filing status and adjusted annually for inflation.