Which of the Following Correctly Describes the Relationship Between Productivity

question 108

Multiple Choice

Which of the following correctly describes the relationship between productivity growth,unemployment,and the economy's production possibilities frontier?

• A) An increase in productivity moves the economy from inside the production possibilities set to its frontier.
• B) An increase in productivity shifts the economy from the production possibilities frontier to a point outside the production possibilities set.
• C) An increase in unemployment shifts the economy further inside its production possibilities set.
• D) An increase in unemployment shifts the economy from a point outside the production set back to the production possibilities frontier.
• E) A reduction in unemployment shifts the entire production possibilities frontier outward.

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Definitions:

Purchase Decision

The process by which a consumer decides whether to buy a product, influenced by factors like price, quality, and brand.

Need Awareness

The process of recognizing and understanding a customer's needs or problems that a product or service can solve.

FAB Selling Technique

A method focusing on the Features, Advantages, and Benefits of a product or service, highlighting its value to the customer.