Which of the following would shift a nation’s entire production possibilities curve outward?
a. moving from less than full employment to full employment.
b. developing a more efficient technology.
c. more efficiently allocating productive resources already available.
d. All of these.
b. developing a more efficient technology.
Economics
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Marginal revenue for a price taker is
A) equal to price. B) less than price. C) more than price. D) unrelated to price.
Economics
If the opportunity cost is 2X = 1Y for country A and 1X = 3Y for country B, then a possible terms of trade is:
A) 1X = 1/3Y. B) 1X = 1/4Y. C) 1X = 1/5Y. D) 1/2X = 1Y.
Economics