In Figure 1.4, a shift of the production possibilities curve from PP1 to PP2 could be caused by
A. Implementation of training programs that improve the skills of workers.
B. A flu epidemic that makes many workers sick.
C. Tougher pollution controls for the producers of televisions and smartphones.
D. An increase in the unemployment rate.
Answer: A
Economics
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The production possibilities frontier itself shows
A) the maximum amount of resources available at any given time. B) combinations of goods and services that do not fully use available resources. C) the maximum rate of growth of output possible for an economy. D) the maximum levels of production that can be attained.
Economics
Which of the following goods is least likely to be in a market basket?
A. Shuttle service B. Airfare C. Streetlamps D. Coffee beans
Economics