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Author Question: The figure above shows the U.S. production function. From 1986 to 2008 the United States experienced ... (Read 40 times)

dmcintosh

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on: Jun 29, 2018
The figure above shows the U.S. production function. From 1986 to 2008 the United States experienced major advances in technology as well as an increase in the working-age population. The combined effect can best be shown by a
 
  A) movement from point W to point X.
  B) movement from point Y to point Z.
  C) movement from point Y to point X.
  D) movement from point W to point Z.

Question 2

The production possibilities frontier
 
  A) depicts the boundary between those combinations of goods and services that can be produced and those that cannot given resources and the current state of technology.
  B) shows how many goods and services are consumed by each person in a country.
  C) is a model that assumes there is no scarcity and no opportunity cost.
  D) is a graph with price on the vertical axis and income on the horizontal axis.


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JaynaD87

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

A


dmcintosh

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Reply #2 on: Jun 29, 2018
Correct answers!


JaynaD87

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Reply #3 on: Jun 29, 2018
Great! Please up vote :D


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