Which of the Following Would Shift a Nation's Production Possibilities

question 21

Multiple Choice

Which of the following would shift a nation's production possibilities frontier outward?

• A)discovering a cheaper way to convert sunshine into electricity
• B)an increase in demand for the nation's products
• C)a decrease in the unemployment rate
• D)a law requiring workers to retire at age 50

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Definitions:

Job-Order Costing System

An accounting system that collects costs for each individual job or project separately to determine its profitability, commonly used in manufacturing or services where goods or services are produced on a bespoke basis.

Predetermined Overhead Rate

An estimated allocation rate that is used to apply the overhead costs to products or service units.

Manufacturing Departments

Distinct sections within a manufacturing operation, each specializing in a particular process or function involved in the production of goods.

Machine-Hours

A measure of the amount of time machines are operated in the production of goods, often used to allocate manufacturing overhead costs.