Assume That an Association of Young Workers Has Lobbied Congress

question 147

Multiple Choice

Assume that an association of young workers has lobbied Congress to require that all workers retire once they reach the age of fifty.What impact would this law have on the nation's production possibilities frontier?

• A) no impact at all
• B) The level of unemployment would decrease so the production possibilities frontier would shift outward.
• C) The nation would move to a new position on its production possibilities frontier but the frontier itself would not shift.
• D) The production possibilities frontier would shift inward.
• E) The number of young workers would increase so the production possibilities frontier would shift outward.

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Definitions:

SST

Sum of Squares Total, a statistical measure that represents the total variance in a dataset.

Correlation Coefficient

A statistical measure that describes the extent of the linear relationship between two variables, ranging from -1 to 1.

Linear Relationship

A relationship between two variables where the change in one variable is directly proportional to the change in another.

Coefficient Of Correlation

A numerical metric that evaluates the intensity and orientation of a linear connection between a pair of variables.