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An outward shift of a nation's production possibilities frontier represents

parneetgill

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An outward shift of a nation's production possibilities frontier represents

Question 1.

An inward shift of a nation's production possibilities frontier can occur due to

▸

an increase in the labor force.

▸

a change in the amounts of one good desired.

▸

a reduction in unemployment.

▸

a natural disaster like a hurricane or bad earthquake.

Question 2.

An outward shift of a nation's production possibilities frontier represents

▸

rising prices of the two goods on the production possibilities frontier model.

▸

a situation in which a country produces more of one good and less of another.

▸

economic growth.

▸

an impossible situation.

Textbook

InMicro

Edition: 1^st

Authors: Hubbard, O'Brien

Read 92 times

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Jax

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parneetgill Author

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this is exactly what I needed

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You make an excellent tutor!

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Smart ... Thanks!

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