A Bowed Production Possibilities Curve Is Consistent with

question 254

Multiple Choice

A bowed production possibilities curve is consistent with

• A) a decreasing opportunity cost.
• B) a technologically inefficient society.
• C) the overutilization of productive resources.
• D) highly specialized resources.

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Definitions:

Spells Of Unemployment

Periods of time during which an individual is unemployed but actively seeking work.

Frictional Unemployment

Unemployment that results because it takes time for workers to search for the jobs that best suit their tastes and skills

Job Losers

Individuals who have been involuntarily terminated or laid off from their employment.

Data On Unemployment

Statistical information relating to the number of unemployed individuals in the workforce, often presented as an unemployment rate.