The Figure Given Below Represents an Economy Producing Corn and Planes

question 8

Multiple Choice

The figure given below represents an economy producing corn and planes under different economic situations.Figure 2.2

-Refer to Figure 2.2. If there is an increase in the education level of the population, graph(s) _____ best illustrate(s) what will happen to the production possibilities curve [PPC].

• A)A
• B)B
• C)C
• D)A and C
• E)A and B

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Definitions:

Step-down Method

An accounting method used for allocating indirect costs to different departments based on a hierarchy where the first allocation base is the costliest department.

Personnel Department

The division of a business that is focused on activities relating to employees, such as hiring, training, and benefits administration.

Number Of Employees

The total count of individuals employed by a business or organization at a specific point in time.

Step-down Method

A method used in accounting to allocate service department costs to production departments in stages.