Which of the following scenarios would cause an outward shift in the production possibilities curve?
a. temporary shutdown of mines due to frequent accidents
b. discovery of large mineral deposits
c. tougher environmental legislation
d. shortage of skilled labor
b
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Agriculture is the primary occupation in Agraria and agricultural products account for two-thirds of Agraria's gross domestic product
How will a sharp fall in the price of agricultural products affect Agraria's economy if the demand for such products is price-inelastic?
List the four determinants of an economy's productivity
A country will gain relatively more from trade when
A) trade is regulated. B) the world price is close to the country's opportunity cost of the good. C) the world price is below the country's opportunity cost of the good. D) the world price is much greater than the country's opportunity cost for the good.
Refer to the information provided in Figure 8.2 below to answer the question(s) that follow. 
Figure 8.2
Refer to Figure 8.2 above. The total fixed costs for The Barber Shop are $3,000. If The Barber Shop produces 300 haircuts, the average fixed costs are
A. $0.20. B. $5. C. $10. D. $100.