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What is an outward shift of the production possibilities curve represents?
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Is the outward curve of the production possibilities curve good or bad?
it really good
An increase in technology will cause the production possibilities curve to?
shift outward
What is it that causes a production possibilities curve to shift outward or inward?
Improvement of management efficiency.
What does a point inside a production possibilities curve represent?
A point inside a production possibilities curve represents things that can be produced. However, points inside the curve would be less efficient to produce than those points resting directly on the line.
If the law of increasing opportunity costs is reflected in a production possibilities curve which is?
production possibilities curve convex to the origin. Elson Mendoza was here.
Is the outward curve of the production possibilities curve good or bad?
it really good
An increase in technology will cause the production possibilities curve to?
shift outward
What is it that causes a production possibilities curve to shift outward or inward?
Improvement of management efficiency.
Increases in resources or improvements in technology will tend to cause a society's production-possibilities curve to?
shift outward
What does a point inside a production possibilities curve represent?
A point inside a production possibilities curve represents things that can be produced. However, points inside the curve would be less efficient to produce than those points resting directly on the line.
If the law of increasing opportunity costs is reflected in a production possibilities curve which is?
production possibilities curve convex to the origin. Elson Mendoza was here.
Is the United States on the production possibilities curve?
no
Economic growth is a measure of the increase in?
An outward shift of the production possibilities curve
How does production possibilities curve differ from production possibilities frontier?
the possibility production curve show production that can be produces using minimum resources whereas the possibilty productive frointer show the attainable levls of production.
Is the production possibilities curve convex to the origin?
yes
What the production possibilities curve?
It is a graph that represents various maximum combinations of output a nation can produce with limited economic resources in a fixed period of time.
Where on a production possibilities curve the economy working at its most efficient production levels?
Any point on the PPC curve
