-The Figure Above Shows How the PPF for Cell Phones

question 94

Multiple Choice

-The figure above shows how the PPF for cell phones and new cell-phone factories can expand.In the figure,if the economy chose the point on this year's PPF that is below point K,the next year's PPF would

• A) shift outward along the horizontal axis farther than the new PPF shown in the figure.
• B) shift outward along the horizontal axis, but not as far as the new PPF shown in the figure.
• C) shift outward along the vertical axis, not along the horizontal axis.
• D) shift inward along the horizontal axis.
• E) shift inward along the vertical axis.

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Definitions:

Invoice Approval

The process of reviewing and verifying an invoice before it is paid to ensure that the charges are accurate and the goods or services were received.

Petty Cash Reimbursement

The process of refilling the petty cash fund to its set level after its funds have been used for small, incidental expenses.

Journal Entry

A record in accounting that represents a transaction with debits and credits documented in the appropriate accounts.

Streamline

To simplify or eliminate unnecessary steps in a process to increase efficiency and improve performance.