Suppose the economy goes from a point on its production possibilities frontier (PPF) to a point directly to the left of it. Assuming that the PPF has not shifted, this could be due to
A) a gain of resources.
B) a loss of resources.
C) technological improvement in the production of both goods.
D) a new law that interferes with productive efficiency.
D
Economics
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"As the price of gasoline increases, fewer people buy cars that are gas guzzlers." A graph showing this relationship would
A) have a positive relationshi
Economics
Refer to Figure 13-2. Ceteris paribus, a decrease in the expected future price level would be represented by a movement from
A) SRAS1 to SRAS2. B) SRAS2 to SRAS1. C) point A to point B. D) point B to point A.
Economics