Answer: e. An improvement in technology
Which of the following would cause an outward shift of the production possibilities frontier?
a. An increase in opportunity costs
b. A reduction in the size of the labor force
c. A reduction in inefficiency
d. A change in the combination of goods produced
e. An improvement in technology
Economics
You might also like to view...
Does the presence of asymmetric information necessarily imply that governments should intervene in a market?
What will be an ideal response?
Economics
An old friend takes you out to dinner and pays for your meal. Which of the following best represents your opportunity cost?
A) the amount of money you would have spent to pay for the dinner yourself B) the money your friend could have made buying a winning lottery ticket C) the money you could have made working overtime at your job D) Both A and C
Economics
Most redistribution is not targeted to the poor
a. True b. False
Economics
Often antitrust enforcers
A. Cannot measure market concentration. B. Lack the resources to prosecute anticompetitive behavior. C. Prefer to break up companies that violate antitrust laws. D. Lack a legal structure to prosecute companies for monopoly behavior.
Economics