A Technological Advance Would Best Be Represented by

question 93

Multiple Choice

A technological advance would best be represented by

• A) A shift outward of the production possibilities curve.
• B) A shift inward of the production possibilities curve.
• C) A movement from inside the production possibilities curve to a point on the production possibilities curve.
• D) A movement from the production possibilities curve to a point inside the production possibilities curve. The shift would move the production possibilities curve away from the origin so that we can get more of both goods.

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Definitions:

Total Assets

The total of all properties a company owns, encompassing both short-term and long-term assets.

Liquidity

The ability of an asset to be converted into cash quickly without significantly affecting its price.

Solvency

The ability of a company to meet its long-term financial commitments and continue its operations.

Profitability

The ability of a company to generate earnings as compared to its expenses and other relevant costs incurred during a specific period.