In Constructing a Production Possibilities Curve, All of the Following

question 209

Multiple Choice

In constructing a production possibilities curve, all of the following are assumed EXCEPT

• A) resources are fully employed.
• B) the quantity and quality of resources being used is fixed.
• C) the state of technology is improving.
• D) the time period involved is fixed.

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Definitions:

Neuroticism

A personality trait characterized by tendencies toward anxiety, moodiness, worry, and envy.

Involuntary Unemployment

Occurs when individuals are willing and able to work at prevailing wage rates but cannot find employment.

Psychological Well-Being

A state comprising elements like self-acceptance, positive relationships with others, autonomy, environmental mastery, purpose in life, and personal growth.

Five-Factor Model

An approach that outlines human personality via five major traits: openness, conscientiousness, extraversion, agreeableness, and neuroticism.