If a New Labor-Saving Technology Is Discovered

question 32

Multiple Choice

If a new labor-saving technology is discovered,

• A)the production possibilities curve remains unchanged.
• B)the production possibilities curve shifts inward.
• C)there is movement along the production possibilities curve.
• D)society does not face a new set of tradeoffs.
• E)points that were previously unattainable to society may now be attainable.

---

Definitions:

Finite Arrival Population

A scenario in queueing theory where the number of potential arrivals to a system is limited or fixed.

Copy Machines

Devices used for reproducing documents or images by means of photocopying.

Finite Population

A set of data or a population that is limited or fixed in size, often used in statistical analysis to apply different formulae compared to an infinite population.

Average Service Time

The mean duration needed to complete service for a customer or process a task, commonly used in the evaluation of service and operational efficiency.