Using a production possibilities curve, a technological advance that increases the amount of output for the same amount of inputs would be illustrated as a(n):
a. flattening of the curve.
b. movement from one point to another point along the curve.
c. outward shift of the curve.
d. movement from a point on the curve to a point inside the curve.
Question 2
Which of the following would be least likely to cause the production possibilities curve to shift outward?
a. a decreased desire for leisure by workers in the economy.
b. an invention that requires fewer resources to produce a good.
c. a shift in consumer preferences that causes expansion in the output of one product and a decline in output of other products.
d. an expansion in the man-made productive resources available to the economy as the result of a high rate of investment.
The titration curve of acetic acid
Water amount needed to grow crops
Energy Production
As the world’s population continues to grow, demands on limited resources for food production
Neutral Technological Change
Calculate the amount of interest that will be charged on $9000.00 borrowed for four months at ...