a. enable the economy to produce outside its original prodaction b. enable the e
ID: 1140211 • Letter: A
Question
a. enable the economy to produce outside its original prodaction b. enable the economy to move along its original production possibilities froetie c. eliminate scarcity; therefore, the production possibilitics frootier would no longer exis d. have no effect on the production possibilities fronticr 254 200 20 40 60 gains 100 socks loses 30 muftflers c. is worse off aher the change in production d. is not operating efficiently e experiences some unemployment of resources 27. On a production possibilities frontier, the opportunity cost of onemone wnit of a comedity er measured by the a. monetary price of the commodity amount of the other commodity that must be sacnificed amount of unemployed resources that ust be us d. amount of satisfaction it gives consumers amount of tax paid to government for production salc, and une of the commediny 28. A production possibilities fromtier will shift outwand it there is an imgevi echoolosgy a. True b. False 29. Increases in resources or improvements in technology will cuse the prodaction shift outward shift inward c. become a straight line d become horiaontal e. become vertical 30. Which of the following would shift the production possibilities fronticr outward? a. a reduction in inefficiency b. a reduction in the size of the labor fonce c an improvement in technology d. a change in the combination of goods produced e increasing opportunity costs 31. An improvement in technology would b. enable the economy to move along its original prodaction possibilities frontier c eliminate scarcity; therefore, the production possibillitics frontier would no long d. have no effect on the production possibilities fronticr a. enable the economy to produce outside its original prodasction possibilitis fronatise toaline with a pitne slepe Which is the an shit outrward for all of the following reasoes otExplanation / Answer
26. Option b. At point c, 80 mufflers and 0 socks are produced. Now moving to point d there would be a combination of 50 mufflers and 150 socks which would be reduction of 30 mufflers
27. Option b. The amount of other good that needs to be given up
28. Option a. Technological improvements increases productivity which shifts the PPF outward
29. Option a.
30. Option c.
31. Option a.
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