Following Is the Production Possibilities Schedule for an Economy Producing

question 58

Multiple Choice

Following is the production possibilities schedule for an economy producing two goods, Good A and Good B.Table 2.1

-Given a production possibilities curve for defense goods and non-defense goods, which of the following is not true?

• A)A production point outside the curve may be attained if new resources are discovered.
• B)A production point outside the curve may be attained by acquiring a new technology.
• C)A production point outside the curve may be attained by shifting resources to defense goods.
• D)A production point outside the curve may be attained by acquiring both a new technology and greater resources.
• E)A production point outside the curve cannot be attained with the current level of resources and technology.

---

Definitions:

Labor Productivity

refers to the amount of goods and services produced by one hour of labor.

Profit-sharing Bonuses

A type of incentive where employees receive additional compensation based on the company's profits, encouraging ownership behavior and aligning interests.

Non-management Employees

Individuals within an organization who do not hold managerial or supervisory positions and are responsible for executing tasks and operations as directed by management.

Piece Rate Pay

A compensation system where employees are paid based on the quantity of units they produce or complete.